Post-pandemic predictions for the property market Post-pandemic predictions for the property market

Post-pandemic predictions for the property market

Published in Magazine on 7 July 2021 by our Marketing Team

After 18 months of uncertainty, the UK property market has seen some incredible highs and lows, from the sector closing and reopening last spring, to the impact of the stamp duty holiday on residential transaction levels.

 
For those looking to buy or sell in 2021, here are the top projections on what will continue to shape activity levels in the coming months.
 
House prices at a record high
 
Initially propelled by the stamp duty holiday, house prices have risen by 10.2% in the year to March 2021, with vaccine optimism now fuelling high demand levels.*
 
With a tapered end this September, homeowners can still save £2,500 on the first £250,000 of a property due to the stamp duty holiday, meaning that sales will continue to push up prices this summer.
 
If you haven’t had a recent valuation of your home, talk to us today to gauge its current value.
 
The long-awaited return of overseas property investors
 
Travel has been made all-but-impossible for most travellers.
 
However, with vaccine programs being rolled out in other countries as well as the UK, we should soon see the return of overseas buyers looking for their next investment opportunities.
 
This will be key to help the market fully recover from the events of 2020, particularly for the construction sector.
 
Country locations increase in popularity
 
Remote working became the norm for most of the country’s workforce in 2020, which gave people the freedom to move further afield.
 
As outdoor space went up in our estimations, the need for a perfect commute distance became less important, leading to more buyer activity as homeowners and tenants found themselves restless with their current accommodation.
 
More space for remote workers
 
For those whose job will continue to operate remotely, a home office or designated workspace is essential.
 
Larger properties are in short supply, making it the ideal time for homeowners to sell up.
   
Commercial spaces transformed into residential properties
 
Commercial spaces are being left empty, as many people are now opting to work from home, where able.
 
This means that many offices have closed permanently, leading the owners to convert them back into residential properties.
 
Overall, this could have a massive impact on the market.
 
 
Do you want to know your options buying or selling this summer? We’d like to offer you a consultation, visit our website to learn more.
 
 
*ONS
 

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

Members of the Relocation Agent Network

Part of a network of agents

We work with other trusted estate agents across the nation

Latest news

Help us make a difference to those in need this Christmas
Campaigns | 21 November 2022

Help us make a difference to those in need this Christmas

Donations for our local food banks are being gratefully received at your local Pygott & Crone branch

Is home staging worth it?
Magazine | 1 November 2022

Is home staging worth it?

Home staging is a specialised skill which involves creating the perfect atmosphere in your home using furniture and accessories, plants and lighting, to garner buyer interest for your property and sell it faster, for the best price.

Winterproof your home with these tips
Magazine | 1 November 2022

Winterproof your home with these tips

As autumn leaves us and dark evenings approach, now is the best time to start preparing your home for the cold months ahead.

One in three properties receive an offer one hour after viewing
Magazine | 1 November 2022

One in three properties receive an offer one hour after viewing

The housing market once again exceeds expectations after a poor reception from the chancellor’s mini-budget and regular talk of a possible slowdown, as current research suggests that in 2022, almost a third (31%) of properties are now receiving offers within an hour, compared to a mere 7% in 2018.

Chat live

Chat live with a member of staff

Please provide your name and email address to continue.

Cookies

We use some essential cookies to make our website work; and we use some other cookies to help us improve our website without identifying you. You can accept all cookies or change your settings below.

For an explanation of cookies and how we use them, see our cookie policy here (opens in new tab). Below you can choose to enable non-essential cookies.

These are anonymous and help us understand how our website is used.