Christmas market comment

During the spring it certainly seemed, for all those involved in trying to move, that everything was conspiring against them.

Lockdown presented its challenges for all in the property market, like every other industry. On the other hand, there is absolutely no doubt that the government’s stamp duty holiday proved to be the turning point for the market during the second half of the year.

Despite the fact that this holiday is currently due to expire at the end of March, for those who want to take advantage of this financial opportunity, it may not be too late if a purchase is agreed upon between now and very early in the new year, and depending on whether all the parties involved are able to move very quickly.

December 15th introduced a new deadline for buyers taking advantage of the existing Help to Buy scheme on a purchase of a new build home worth up to £600,000. A replacement scheme designed specifically for first-time buyers has been introduced, albeit with regional caps, and this scheme, as before, will provide a great opportunity for those looking to climb onto the property ladder for the first time.

After what has been an undoubtedly challenging year for all, the forthcoming Christmas break will prove to be a great opportunity to rest, relax and spend some time with family and friends, albeit in a restrictive way. For those who are planning to move home next year, Rightmove will be confidently expecting to see a spike in online activity during the festive period. In past years this festive window has provided record traffic, with many spending more time at home than usual this Christmas, I would predict this surge of online traffic to be higher than previously.

Let’s hope in every way that 2021 is the year to move forward.

Steve Tetlow – Managing Director