Rightmoves BUSIEST DAY EVER!

Rightmoves BUSIEST DAY EVER!

Is the property market about to explode??

Budget day was Rightmove’s busiest day ever with visits surpassing 9 million for the first time, and 6% higher than on summer statement day on 8th July last year.

The combination of the stamp duty extension and introduction of 5% mortgage scheme saw new buyers flock to contact estate agents, up 82% on the same day in 2020.

Powerful stats from Rightmove.co.uk and it raises the question… Are we about to see a boom in the property market???

I have worked in the industry for almost two decades and being a very analytical person I would like to think I have a good read on the markets. I have said for about 3 months now that last years market made a first time buyer market for 2021. This is what we are now seeing and as a result the foundations have been laid through the start of the year for a potential price boom. The 5% government unwritten mortgages and the cheap 90% loan to value mortgages on offer certainly mean first time buyers have the option to buy now and buy cheap. Cheap in terms of monthly costs, will often result in price increases.

(Last week I wrote this blog on why the price of a property doesn’t matter https://avocadoberkshire.co.uk/blog/why-the-price-of-a-house-doesnt-even-matter-for-a-buyer/29145)

So with banks offering cheap mortgage deals, stamp duty extended, 5% deposit options on offer, rental prices increasing and saving money in the bank worth nothing; is the property market about to explode?

Request a call back if you want to have a quick chinwag about the market with one of our partners. https://avocadoberkshire.co.uk/contact-us









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For much of the last two decades, bungalows have quietly slipped out of fashion. Overshadowed by those glossy new build developments, three storey townhouses and open plan ‘modern living’, they became seen by many as somewhere only your granny lives rather than an aspirational home move.

For decades, the flat was the natural starting point for many first-time home buyers. The first rung of the ladder. The affordable option. The stepping stone to something bigger. For landlords, it was a dependable investment. For first-time buyers, it was often the only way in.

Young people have been locked out of homeownership. Deposits are impossible to save. Mortgage rules are too strict. And ‘Generation Rent’ is now permanent. According to the narrative by the newspapers, younger generation homeownership has collapsed.

There is a growing shift taking place in the Stevenage property market, and it is not one that can be ignored. While much of the national conversation focuses on house prices and interest rates, a quieter yet more revealing metric is beginning to stand out, how long properties are taking to sell.