Property Transactions Have Risen As You’d Expect

At Hunters Hornchurch, we look to provide you with the best standard of support and guidance as we can. With the stamp duty holiday in place, many people are looking to make a move sooner rather than later.

We are helping many local buyers and vendors. We aim to bring these parties together. If you are a property owner in Hornchurch, contact us and we can arrange a property valuation for you. We believe a property valuation is the best way for you to enter the market confidently, and engage buyers.

We also stay in touch with the latest figures and information from leading industry bodies. Information from HMRC is always worth following, and they have provided figures which indicate the rising number of property transactions.

People are moving in large numbers

It is estimated 98,010 transactions were completed in the ninth month of the year, and this marks a return to pre-COVID figures. With this information coming from HMRC, there can be a degree of confidence about these figures.

In the three months to September 2020, newly agreed sales rose by 53% compared to the previous years’ figures. The average time taken to move from agreed sale to exchange was 123 days, so not all current transactions will be part of the figures for newly agreed sales.

We have helped many homeowners to enter the market confidently, connect with buyers, and move on. If you are looking for clear and reliable support, please contact us today.

Professionals in property sector are under greater pressure

It should be noted that the higher demand for property will likely lead to delays. There is now greater pressure on:

• Estate Agents
• Solicitors
• Mortgage Lenders
• Surveyors

All these professionals are under greater pressure right now, and of course, also have to manage COVID guidelines.

Lloyd Davies is the Operations Director at the Conveyancing Association, and he said; “Being able to plan for the current market circumstances has been an enormous challenge. The impact of Covid-19 created a vacuum of activity which has been followed by a tidal wave of property instructions. Not surprisingly during lockdown, most law firms furloughed many of their staff and indeed there were some redundancies. As the lockdown restrictions were lifted, firms were faced with the challenge of making work places Covid secure which inevitably meant that fewer employees could be accommodated at their place of work.”

Lloyd continued by saying; “The challenge then has been to choreograph home working alongside those back in the office with all the challenges that brings. Whilst firms have performed wonders in making such arrangements work it is inevitable that maintaining productivity is a real challenge, and of course allowance has to be made for the fact that unfortunately some employees have been affected by the disease.”

Consider making a move soon

As of the middle of November, there will only be around 20 weeks left of the stamp duty holiday, unless it is extended. Therefore, buyers and vendors are advised to move as quickly as possible to ensure they benefit from the saving.

If you are keen to stay in touch with the local housing market, we can help. At Hunters Hornchurch, we are on hand to ensure you receive all the guidance you need in the local property market, and we are here to assist you.