The home front
Property market update from College and County, Thame
The past few weeks have seen a very busy property market, especially here in the Oxfordshire and Buckinghamshire area. The weather has certainly changed, and lockdowns have eased, adding to a general feeling of confidence and a theme of “getting on with things”.
But what’s it been like across the country? Well, if you look at the statistics, it’s been very good news across the board. House prices are up, and a lot of transactions are being lodged.
It also seems that conveyancing companies and solicitors have been taking on more staff to cope with demand.
Several stories have caught my attention this month, and so I feature them in this month’s news round up. Don’t forget, if you want to know more about what’s happening locally, just get in touch with me on 01844399292 or email email@example.com.
PRICES ARE ON THE UP
House prices in March had a bit of a resurgence, according to the figures collected by the Halifax in its House
The HPI reported that “on a monthly basis, house prices in March were 1.1% higher than in February”, and that “in the latest quarter (January to March) house prices were 0.3% higher than in the preceding three months (October to December)”.
Russell Galley, Managing Director, Halifax, said: “Following a relatively subdued start to the year, the housing market enjoyed something of a resurgence during March, with prices up by just over 1% compared to February. This rise – the first since November last year – means the average property is now worth £254,606, a new record high.”
There’s no doubt, if you’re looking to sell your Oxfordshire & Buckinghamshire home, that now will be a good time to get a great price.
TRANSACTIONS NOT TAKING A HOLIDAY
Many outlets are reporting that March was a bumper time for housing transactions. HMRC released figures that showed how UK residential transactions in March 2021 had been impacted by the coronavirus (COVID-19) pandemic, and also the so-called holidays for Stamp Duty, Land and Buildings Transaction Tax and Land Transaction Tax.
Figures show that the “provisional seasonally adjusted estimate of UK residential transactions in March 2021 is 190,980”. This is double the number of transactions in March 2020 and 32.2% higher than February 2021.
Additionally, the “provisional seasonally adjusted estimate of UK non-residential transactions in March 2021 is 12,530”. This is 53.0% higher than March 2020 and 24.5% higher than February 2021.
These really do show that the property market has been hugely impacted by the holidays and means more people than ever are buying homes.
If your living in the surrounding villages, then I am able to provide the following information for your property and its location so please do get in touch.
You can read more articles like this one in the latest edition of Thame Out.