Bumper sales numbers for UK home sales in Summer 2020


0

Rightmove posted on August 19, 2020 by DIY DoctorProperty revealed that July saw agreed sales of £ 37 billion making it the busiest month for real estate sales in ten years. It’s over 12 billion pounds than it was in July 2019 when sales reached 25 billion pounds, and it is unsurprising that home purchases declined during the lockdown, but once watching and home movements were allowed again in May, they began to increase again, and from The government’s decision to lower the stamp duty is also likely. Encourage both buyers and sellers to act quickly. Their announced decision in July makes real estate £ 500,000 and is subject to zero stamp duty, and some of these savings are passed on but home prices are not much lower than last year. Rightmove data showed that the average asking price in August was £ 319,497, down 0.2% from a record high in July of £ 320,265. National average home price averages were softened by a 2% drop in London asking prices, but Rightmove reported record asking prices. In Scotland, Wales, Yorkshire, the Humber, northwest England, the East Midlands, the West Midlands and eastern England, July is usually one of the quietest times of the year because when people go away on their summer vacations they don’t even think about it. But last month has been extraordinarily busy for moving companies across the UK, and in fact, buyers and sellers have rewritten the housing market rulebook this summer with more people moving home than ever before. The value of real estate sales was agreed upon in July – the busiest month for home purchases since they began tracking this data more than ten years ago. Sales numbers were up 60% in the period August 5–12, compared to 2019. “We associate this time of year with diving in the pool instead of the real estate market, with sand and sun instead of bricks,” said Miles Sheepside, Director of Rightmove. But buyers have achieved a record £ 37 billion monthly spending spree. ”He also said: There have been many changes as a result of the unprecedented pandemic, and these include rewriting the seasonal rulebook previously predictable of housing market activity and movers and packers marketing And buying more real estate than we recorded in any previous month for more than ten years, helping to push prices to an all-time high in seven regions, instead of just releasing the current pent-up demand due to the housing market being suspended during the lockdown, there’s an extra layer of additional demand due to People’s changing housing priorities after the lockdown experience, this also maintains the momentum of the unexpected small boom, which is now longer and faster. We associate this time of year with diving in the pool rather than the real estate market, and with sand and sun instead of brick and mortar, while these are not seasonal hikes at all for the new seller asking prices in seven regions, with the growing popularity of countryside sites that push prices in places like Devon. And Cornwall, these unprecedented levels of buyer activity may lead to processing delays and mean you will need to be patient for it to complete. Over a period of more than ten years, and with a record total value of over £ 37 billion, agreed sales for July 2020 were 38% higher than in 2019, and 20% higher than the previous record set in March 2017, the last agreed weekly sales figure of 60. Compared to the same week in 2019, the largest number of real estate is coming to the market in a month since March 2008, and there are 44% more properties coming to the market compared to the same period last year, although there are big regional differences: a non-record high Seasonal for the new seller asking prices in seven regions, but London pulls the national average down 0.2% due to its usual seasonal drop of 2.0% monthly, and Miles Sheepside went on to point out that characteristics in the average traveler – belt areas now need more research. About them then the proximity to the train station alone. He said, “More real estate is coming to the market than a year ago in all regions, and nationally the new supply and increased demand are relatively balanced. However, those expressing their greatest desire to go forward are not surprising in London and its commuter belt, where it owns.” London has 69% more real estate coming to the market, the southeast with 60% and the east with 56% With the potential for changing business and transportation patterns in most parts of the capital, the characteristics of the commuter belt need to attract potential buyers more than just the proximity to the station. Buyers cater to their new needs in these areas, as the number of sales agreed at each level is also at a record high.Exodus outside the city has helped push prices to record levels in Devon and Cornwall, for example, where working from home means a different lifestyle much closer. To your new doorstep Sales at Leaders Romance Group (LRG) said: This is positive news for both the real estate sector and the broader economy. The market performed well in the first quarter of this year, and has recovered since the closure restrictions were lifted. Buying pent-up is a major factor in the post-closure emergence, as is the growing demand for living spaces and gardens. As many of us continue to work from home, people have realized that businesses can do well while doing so, and thus you no longer want to move to major cities five days a week, or live in urban environments close to offices. Living in rural areas that provide green spaces. The recently announced stamp duty holiday is another market accelerator as well, with many investors and buyers taking advantage of the savings that will be realized. We’ve also seen an increase in inventory levels – increased supply gives buyers more options. These numbers are very positive, but unlikely to lead to a sustainable price boom. Dominic Murphy, general manager of real estate agents at DM & Co in Solihull, added: The market is showing incredible signs of resilience after the shutdown. The chancellor’s announcement has certainly contributed to this recovery and the market is much more active now than it has been in the past 10 years. July 2020 was the best month in DM & Co. history. And we are seeing increased activity across all price categories and we expect that to continue well into the fourth quarter as buyers will do everything they can to drive sales before the stamp duty holiday ends, I think the market will remain buoyant until the job losses are cleared and it really starts to hit the market in full force. And the questioning of the capacity of the mortgage begins. If you can be in a chain-free situation, you are likely to benefit from the momentum in the market and not be open to chains that break apart further. Blog: Top Tips to Consider When Selling a Home.


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Joseph

0 Comments

Your email address will not be published.