With the Stamp Duty holiday coming to an end, is the sales market likely to change?
At Gibson Honey we are regularly asked the questions “is the market going to stall and crash once the Stamp Duty holiday ends and will it be extended again?”
In answer to the latter, we highly doubt it, but then again if someone had told us during the first lockdown that we were about to have a record year, we would have questioned their sanity! From this experience we have learnt not to rule out anything in this unpredictable market.
In answer to the first question, we have seen a slight decrease over the last 10 – 14 days in buyers registering and general activity levels. This could be that buyers are waiting to see if the Stamp Duty holiday is going to be extended again so they can take advantage of it. This does not mean that sales of property have necessarily dropped though, in fact, we have placed three properties under offer already this week.
In essence, nobody has a crystal ball and working in such a volatile market it is extremely hard to predict how the market is reacting week to week. What we can say is that we are here to guide our clients through the haze and our experienced team will be able to let you know how to react to the market if it does change.
What we would like to point out is that if your property does start to fall in value then this will more than likely be happening to the property that you will be trying to purchase, so it is of course all relative.
If you are curious about how your property will perform in this market or maybe you’re currently on the market with another agent and are not getting the advice you feel you need at this time, please call us on 01895 67766 to have an informal chat with our friendly team.
Alternatively, use this link to book your no obligation market appraisal - https://gibsonhoney.co.uk/book-a-valuation/