Completed Deals Are Rising

25th May 2021 posted in Sellers Buyers

At Hunters West Hampstead, we are committed to helping you with whatever move you are keen to make in the housing market. We know these are challenging times, but the level of activity in the property market suggests many people are looking to move.

We have spoken to many prospective buyers in and around West Hampstead. There is demand for homes in this part of the capital. If you are looking to buy property in this part of London, we can help.

Equally, if you are looking to sell property in this area of London, we have a queue of keen buyers. Our aim is to connect you with buyers, and we’ll make sure you make informed decisions in the housing market.

2021 is picking up after a slow start

Given the events of last year, it is easy to see why many industry specialists will compare 2021 with 2019. For the first quarter of 2021, there was a subdued start, with the following findings:

  • New property listings were down 18% in comparing January 2021 with January 2019
  • New property listings were down 15% in comparing February 2021 with February 2019
  • For March 2021, new property listings rose by 14% compared to the March 2019 figures

There are many reasons why the March figures are more positive, including the lockdown exit plan, the stamp duty holiday extension and the Government announcing the mortgage guarantee scheme.

Sold Subject to Contract figures

The figures for January and February 2021 were similar to the 2019 figures. However, the monthly volumes in March 2021 represented an 18% increase on the March 2019 data.

Legal Conveyancing numbers

For property search orders, there was a 40% rise for the 2021 figures compared to the 2019 numbers.

Completions were up across the board

With respect to completed transactions, the following results were obtained:

  • The January 2021 figures were 20% up on the January 2019 numbers
  • The February 2021 numbers were 38% higher than the February 2019 figures
  • In March 2021, there was a 66% increase compared to March 2019

Simon Brown, CEO of Landmark Information Group, said: “With the volume of property completions far exceeding those recorded in 2019, our latest Property Trends Report shows that the property market in England and Wales started the year in a buoyant state, with all eyes focused on the original Stamp Duty holiday deadline. In contrast, while property listings were initially subdued for the first two months of the year, an acceleration of sellers listing their properties that emerged in March will help balance the overall supply and demand issue, as available stock rises.”

Simon concluded by saying; “With the government supporting the market through the extended Stamp Duty break to the end of June alongside the mortgage guarantee scheme, we will be closely monitoring the pipeline over coming months to see if the market now finds a more stabilised pattern.”

If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters West Hampstead today for all your housing and letting needs.