Bored buyers are behind the upsurge in market activity
From recent property exchange data, it has been suggested that buyers are seemingly ‘bored’ after the UK’s lockdown; leaving them eager to move on from the first half of 2020 and get on with their next property sale or purchase.
Since the end of August, reports suggest that there has been a 69% increase in property exchanges, which is a 20-month high for the sector.*
In areas where the property market was slightly slower to gain traction, such as London, this increase is an impressive 94% since restrictions were reduced. For which the majority of these exchanges achieved within 10% of the asking price.
Due to current conditions, prospective buyers are fearful of missing out on good deals, leading to an increased rate of accepted offers.
Key reasons you should be thinking about buying in October:
- Spurred on by strong market conditions, we’re listing stunning properties at an incredible rate as sellers and buyers rush to make their next move
- Starting the process now will give you just enough time to complete and be in your new home by Christmas, whilst taking full advantage of stamp duty savings
- Due to lockdown, sellers are more motivated to reach completion and avoid delays, making them more realistic about the offers they’re willing to accept
Are you ready to see what’s currently on the market in your area?
We have implemented measures to help you safely and responsibly move in 2020. For more information on what practices we have in place, contact us today.
*Source: Knight Frank, Estate Agent Today
