Positive property market developments from 2020
Looking back on 2020, it’s easy to focus on the negatives.
However, the impact last year had on the property market was definitely overall positive.
What is in store for the sector this year?
Government schemes
2020’s COVID crisis gave rise to the stamp duty and mortgage holiday to support property homeowners and landlords through their financial hardship.
The stamp duty holiday began on July 8th and will remain in place until March 31st this year, giving buyers and investors the opportunity to see savings of up to £15,000.
Due to the scheme, house sales rose by a huge 21.3% in September.*
Whilst it’s been reported that an impressive 140,000 more people are waiting to complete on their house purchase since this time last year.**
Similarly, the mortgage holiday was initially introduced in March 2020 and has been extended various times with a current end date of July 2021.
This scheme was announced to help households who had been financially impacted by the pandemic and can be taken for up to six months.
For more information, please speak to your lender directly on whether a payment holiday is the right solution for you.
House price surges
With property priorities changing to favour gardens, large living spaces, rural locations, home offices and dining rooms, prices for these properties has increased massively.
Similarly, with the aid of the stamp duty holiday, many buyers have been able to push themselves financially and purchase a larger property than they first thought possible.
With so many positive elements to take away from 2020, and a bright future for the property market ahead, now is a great time to evaluate your options.
If you’re thinking of buying, selling or letting this year, contact us.
*GOV.UK
**Property Wire
This article was originally published by BriefYourMarket and is reproduced here with their permission.
For more company news and insights from Pygott & Crone, click here
Latest news
The autumn deadline student tenants need on their radar
The autumn deadline student tenants need on their radar Most of the changes introduced by the Renters' Rights Act on 1 May 2026 work in tenants' favour: stronger security of tenure, no more no-fault evictions, and the freedom to leave at any point with two months' written notice.
What your landlord must do with your deposit, and by when
What your landlord must do with your deposit, and by when When you hand over a deposit at the start of a private tenancy in England or Wales, the law sets out precisely what your landlord must do with it and when.
Why first-time buyers pay wildly different stamp duty depending on where they buy
Why first-time buyers pay wildly different stamp duty depending on where they buy First-time buyers in England start from the same point on paper: a stamp duty relief threshold that means no tax is paid on the first £300,000 of a purchase price.
Three heatwaves, three dips, one resilient buyer market
Three heatwaves, three dips, one resilient buyer market The summer of 2026 tested the UK property market with an unusual combination of pressures: three separate heatwaves, a World Cup, a period of political uncertainty, and elevated mortgage rates following the conflict in Iran.
