Property buyers and London commuter towns are experiencing a “home-moving frenzy” sparked by the stamp duty holiday.
Buyers, Post-lockdown, looking for spacious homes with gardens. A move towards working from home have put areas within 70 minutes’ train ride of the capital into the spotlight.
UK sellers are inspired to sell up and move announced in July. The nation’s most massive Annual Increase in the number of people putting their homes on the market. Buyers in town increased over time. The increment outstripped the growth in stock and created a rapid turnover.
Demand raised to 74 percent in the South-East compared to this time last year. New sales listing doubled in some towns after reaching to a period of six weeks.
The most popular areas for stamp duty property savings
The areas which saw the most significant boost from the stamp duty holiday were all towns in the London commuter belt.
- 4/10 St Albans, Hertfordshire.
- 5/10 East Grinstead, West Sussex.
- 6/10 Basingstoke, Hampshire.
- 7/10 Tonbridge, Kent.
- 8/10 Welwyn Garden City, Hertfordshire.
- 9/10 Bury St Edmunds, Suffolk.
- 10/10 Wokingham, Berkshire.
Homes here have prices between £400,000 and £500,000. The average asking price for a property in the town is £305,000. According to the King, they’ve increased in number since lockdown lifted. He expects prices in the city to stay steady and says sales are at similar levels to those seen before lockdown.
In the North-West of London, Watford and Harrow saw inquiries of home in the £400,000 to £500,000 price bracket.
Essex towns Chelmsford (95 percent) and Ilford (93 percent) saw the next most significant jump in popularity for homes costing between £400,000 and £500,000.
Amalgamated ed with the stamp duty boost, this surge of London buyers is keeping values afloat, with post-lockdown sales achieving 99.1 percent of the asking price
A lot of buyers are expecting to be working from home indefinitely and so are looking for larger homes than they could afford in London, with gardens.