Housing market experiences mini-boom post lockdown
Despite the concerns for the economy as we come out of lockdown, the housing market is experiencing a bit of a mini-boom at present.
The housing market is fighting back as many homebuyers look to find homes with garden space or an extra room to accommodate a working-from-home area.
Also, with the reduction in the LBTT threshold, buyers are taking advantage of the extra savings.
The property market seems to have picked up where it left off accelerated by no LBTT on houses less than £250,000 and property owners reappraising their homes and lifestyles.
Rightmove Director and Housing Market Analyst, Miles Shipside says “These figures are the earliest indicator of house price trends. They show prices gently rising not falling, and this will be reflected in the coming months.”
Many people in the property market believe that the pandemic has driven a demand with many people reassessing what they want from a home and families who are fortunate enough to be financially secure looking for more space.
The work-from-home effect
One of the key changes in the market is the request from buyers to move to more rural locations. Benefiting from being able to buy bigger homes, larger gardens and generally get more for their money.
While there is concern about employment more buyers want to work from home and don’t even mind if they have a bit longer commute as they will be travelling less frequently.
The recent increase in sales of garden offices and home office furniture reflects the shift in the working environment.
Here at Allanwater Homes, we are also about to launch our own garden office with a choice of two sizes to accommodate your garden space.
This unexpected boost brings a confidence to the market, however, with the threat of a further Covid-19 outbreak and the end of furlough, it’s doubtful we will see any significant house price growth this year.
Now that we have re-opened you can visit our Marketing Suite and speak to our Sales Advisor, but please phone ahead as viewings are by appointment only,
We have created a safe environment for customers and staff limiting appointments to one visitor at a time and ensuring that after each visit our office is fully sanitised. See our health and safety video explaining our procedures here.
You will be able to view our Showhome on your own and our Sales Advisor will be available to answer your questions, however, we continue to take reservations by email and telephone.
If you are considering working from home, ask about our garden offices.