Has there ever been a better time for Staines-upon-Thames home sellers?
The Staines-upon-Thames property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Staines-upon-Thames property ladder with abandon.
Staines-upon-Thames house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Staines-upon-Thames first-time buyers (and Staines-upon-Thames homeowners with minimal equity).
In addition, the continued low interest rates and the demand for larger homes because of lockdown means the Staines-upon-Thames property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Staines-upon-Thames estate agents, making the biggest disparity between supply and demand for Staines-upon-Thames property for many years.
Fears of a cliff edge for the Staines-upon-Thames housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021, meaning that today …
50% of Staines-upon-Thames properties on the market are Sold (STC)
Interesting, when utilising data from theadvisory.co.uk website, the Staines-upon-Thames average for the last five years has only been 37%, meaning there has been an uplift of 33.8% in the proportion of Staines-upon-Thames properties sold (stc) compared to that five-year average.
Yet what can’t be forgotten is that 9 out of 20 Staines-upon-Thames house sellers are also Staines-upon-Thames house buyers as well, so whilst they do indeed achieve a higher price for their Staines-upon-Thames property, they also have to pay more for the Staines-upon-Thames property they want to buy.
So, how much will Staines-upon-Thames house prices rise by?
Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?
There are 21% more Staines-upon-Thames properties for sale today compared to 3 years ago
Nationally, in most UK towns and cities, the number of properties that are for sale today compared to same pre-Easter property markets of 2015 to 2019 are lower by around 10% to 20%, yet in Staines-upon-Thames the opposite is true. With the easing of lockdown roadmap and faster rollout of the vaccine, this has persuaded more Staines-upon-Thames homeowners (especially those older homeowners who have had their jabs) to start making the first steps towards moving home in 2021 and placing their property on the market for sale.
This will mean there will be more Staines-upon-Thames properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Staines-upon-Thames property prices in check.
These are interesting times for the Staines-upon-Thames property market. If you are a Staines-upon-Thames homeowner or Staines-upon-Thames landlord looking to buy or let your Staines-upon-Thames property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in article mean to you.