Daily Express feature

open plan kitchen and dining

I’ve contributed to an article for the Daily Express that has just gone out recently about the UK housing market. It seeks to answer a critical question: Is NOW a good time to move house?

 

Studies reveal that the number of homes being put up for sale in the UK increased by 38%; this has been largely driven after the first lockdown was lifted. Majority of home hunters who planned a move before the lockdown still intend to move for the foreseeable future. COVID has impacted household decisions; in fact, according to a survey; more than one in four people are planning a major life change after the country has recovered from the outbreak. The top change in priority was to have a garden or outside space. If households increase the prioritisation of more space, a garden, and less commuting, then housing demand will increase where this supply of this type of housing is more readily available, which is outside inner-city locations.

 

The stamp duty changes have delivered an immediate boost to the housing market as well. Consequently, the Government should consider an extension of the Stamp Duty Holiday or a reform of the Stamp Duty system, to take the pressure off buyers during the pandemic.