Housing market demand surged in the last full business week of 2020, with 63% more sellers and 73% more buyers flooding onto the scene, compared with the week leading up to Christmas.(1) As the deadline for the Stamp Duty tax break on properties over £500,000 looms ever closer, we are seeing a New Year rush to complete on property transactions prior to the 31 March, with thousands of pounds hanging in the balance.
Despite a new national lockdown, it’s a positive start to 2021, with those working in the mortgage and conveyancing industries now well used to conducting business smoothly online. And, according to Yomdel’s Property Sentiment Tracker, property hunters are too, with live chat requests up 14% compared with the same time last year.(2)
Busier than ever
As a result, conveyancing specialists across the country (including ourselves!) are busier than ever, helping as many clients as possible complete their transaction on time.
To offer a flavour of what this has meant for sales and transactions:
- New sales agreed are 38% higher than a year ago
- 100,000 extra sales are expected to complete before March
- Demand for housing is 34% higher than a year ago(3)
Here for you
While those who are just starting their property hunt in the New Year might struggle to push their transaction through before the Stamp Duty deadline, rest assured that our expert lawyers are here in 2021 and beyond to offer you a high-quality conveyancing experience for your next move, whenever that may be.
To get started, please email us at email@example.com.