Stamp Duty Holiday spurs an already ‘hot’ market in Plymouth.
This year so far has been the epitome of the unexpected and it has left many individuals wondering about the stability of the housing market. First time buyers have been eagerly looking out for fluctuations in house prices, and sellers across Plymouth have been monitoring the demand for new property’s for sale. Experienced estate agent’s in Plymouth have been keeping a record of changes in the property market year-round, so at Dc Lane we are feeling confident with the next steps for the property market.
Since the property industry lockdown was lifted in May, pent up demand in both sales and lettings has seen volumes increase above those experienced pre lockdown. At DC Lane, June saw an increase in turnaround of 20% for both enquiries to buy and rent against January 2020, and some 1200% increase against activity from April (during the depths of lockdown) in both the rental and sales market. Interestingly website traffic has increased by 300% when comparing June 2020 to January 2020.
Vendors appear keen to move on with their life plans and therefore stock numbers have increased. Buyers seem similarly motived, with gardens being top of their wish list. Early indications suggest buyers are willing to pay slightly more for their next home than last winter, so if you are thinking of selling your house this year, now is a great time to start preparing your property for sale. Talk to us to find out exactly what you can do, to have the smoothest sale.
The Rental market is following this trend, leaving June a record month for tenant moves. Available stock remains the biggest challenge, following lower levels of new investment purchases in the recent past. These conditions have resulted in rent increases, helping to ease the pinch seen on Landlords pockets from recent years of government change.
Rent arrears issues have not as yet presented a large issue, however a cautious approach should be taken when accepting applications to rent. As a lettings agent in Plymouth with an excellent reputation, we manage all rental payments with minimal disruption to landlords, which we have found to be of key importance to our customers. If you are considering listing your flat to rent in Plymouth, for keyworkers, isolating family members or individuals isolating after travelling abroad, contact us today to arrange lettings and property management.
It is yet to be seen whether this current flurry of activity across the UK will be sustained, however at DC Lane, many enquiries are coming from out of area applicants looking to find a new life/work balance – This may ensure the west country market remains buoyant into the late year.
With lockdown rules relaxing further and as more people return to work nationwide, we have been receiving an increased amount of enquiries for bookings so we recommended calling our office today to be first on the viewing list for our newest properties. With the high levels of calls, some property’s get snapped up on the first few days of being on the market, so if you are serious about finding a property to buy or property to rent, pop in to our office at 99 Mutley Plain, Plymouth or call 01752 874242.