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Have you read our latest Property Trends Report?

Ben Robinson, MD at Landmark Estate Agency Services, comments on the emerging trends for 2021 across the property transaction pipeline.

Usually, we are able to quietly predict where the peaks and troughs will emerge in the property market calendar, however the typical seasonal changes are all but out of the window in 2021.

Our clients are telling us of the most remarkable challenges they are facing, with demand far outstripping supply, the unwelcome return of gazumping, all driven by a whole host of factors including low interest rates, government incentives such as the stamp duty break and 95% mortgage scheme, and of course a big change in the how we are now living and working. With fewer commuting to work, people are less rigid on having to live within a set commutable radius to the office, opening up a wider search area.


With demand exceeding supply this has created price pressure, with the latest data from Land Registry’s House Price Index showing an annual rise of 10.2%, taking the average value of UK properties to £256,405.

The latest edition of the Property Trends Report from Landmark showed that while supply was subdued through January and February, demand has remained strong through the first quarter of the year. Lockdown may well have prevented the ‘typical’ post New Year bounce, perhaps with the nervousness about letting people view homes first-hand.

The data shows us that supply began to ease in March moving back into a positive year-on-year position, against both 2020 and 2019, which coincided with the announcement of the roadmap out of lockdown. This suggests we will see a much needed growth in supply as rules continue to be relaxed and confidence returns. 

View the Property Trends Report

 

 

 

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For more information on the range of services available from Landmark Estate Agency Services, visit our website or call us on 01524 220013.