The property market is an extremely hot topic of conversation at the moment, given the Stamp Duty Holiday and the unwavering adversity of conveyancers, agents and mortgage brokers alike. We have collectively worked tirelessly to ensure our clients reach the all important completion date, and now seems a good time to both reflect on the past 18 months, as well as look ahead to the future of this contemporary property market.
Many will be aware that the first Stamp Duty Land Tax holiday in England officially ended on the 30th June, however few are actually aware that the Stamp Duty holiday has now moved into its final tapered benefit stage, lasting until the end of September 2021. With this in mind, it is a rather interesting time to be a conveyancer; hearing and witnessing daily the heartfelt and inspiring stories from our clients as to the reasons behind their radical big home move.
As a largely home based worker in a busy residential conveyancing departemnt I can truly appreciate the benefits of a dynamic and flexible working environment. Like many, I have unlocked hours of wasted commuting time each day in replacement for enjoyable home time, spent with loved ones or attending hobby’s that I had previously let fall by the wayside. More than ever before, we are hearing from individuals who are looking to swap their chaotic and exasperating daily routines in the city for a much quieter and calmer life in the country or coast.
We are witnessing a huge lifestyle shift as a result of the pandemic, where people want to buy beautiful and characterful houses in equally beautiful places and with the right resources for their home office and family lifestyles.
London, unsurprisingly, has traditionally led the way with supply always outstripping demand, however estate agents are continuously contacting me and reporting their viewing numbers in rural and costal areas to be at an all time high, with a largely city based audience. In remote villages and quant towns once saturated with marketed properties there are now bidding wars to secure the right home with buyers who have deep suburb pockets.
If you are an individual who can work equally as efficient at home as you can in the office and have the greenlight to work remotely I can think of no better time to jump on the bandwagon and {excuse the catchphrase} escape to the country!
There is still a lot of demand to move house without the stamp duty incentives. We believe that there has been a real shift in where people want to live to as well.
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