As the property market awoke from it's slumber in June after the lockdown, agents tentatively returned to their offices wondering just what the demand would be for house-hunting in the midst of a global pandemic. The answer was surprising, although not so much when you consider the following two points:

1) Brexit (part 1) was finally out of the way, as was the General Election (and Xmas). There were signs in the first couple of months of 2020 that the market was warming up nicely, with buyer enquiries up on the previous few years. Pent up demand was slowly being released.

2) Then Covid hit. Estate agents pulled down the shutters along with the rest of the population. And all that time being at home, surrounded by, well, your surroundings (and spending more time with those you live with!) may have encouraged many to think that a move to a different 'space' is required. 

Certainly here at Lloyds of Watford, June saw the best month for a couple of years for agreed sales. The factors mentioned previously, paired with vendors who also had been forced into exile to spend time in a house they wanted away from, and hearing alarming predictions about an impending recession, were happy to accept sensible offers.

So the announcement of the stamp duty holiday was the icing on the cake. For those who don't know, the Government have announcent that for a 6 month period (ending 31st March 2021) no stamp duty will be paid for those buying a home whether they be first time buyers or not. That's not to be sniffed at. For example, if you were selling your own home and buying a property for £495,000, that would be a saving of £14,750!

If you're considering buying or selling a home either now of in the near future, feel free to get in touch. We'll be happy to answer any questions!


David Lloyd