< Back to blog

House prices rise to record high in mini house-buying boom Posted On 10 August 2020

Last month, house prices hit a new all-time high as the Stamp Duty Holiday boosted buyers enthusiasm

 

The average price of a home was £241,604 in July, which was 3.8% higher than July 2019. These figures from Halifax mirror those from the Nationwide Building Society and show demand is up for properties, which has pushed the price higher.

 

With the nation emerging from lockdown, families are now actively searching for the perfect property with an updated list of requirements including more garden space and home offices. These specific requirements, which are no longer considered by many as nice-to-haves, but must-haves, means properties that match these requirements are selling at a premium.

 

Combine this with the Stamp Duty Holiday on properties up to £500k announced by Rishi Sunak last month, alongside the pent-up demand that has built during the lockdown, then it is no surprise that the property market is experiencing a mini-boom.

 

Families who were hesitant to sell are now coming to the market as the savings with the Stamp Duty Holiday are approaching £15k in some instances. And with the boost in people actively looking, the chances of receiving asking price or above have never been higher.

 

With a wide range of mortgages available, with new products being announced every day, and with growing confidence in the British economy post-lockdown, now really is the time to get your finances in place and get looking, whether you are a first-time buyer or need to sell to move, there has never been a better time.

 

For more information about the Stamp Duty Holiday and how much you could save, please contact us today.

< Back to blog

Connect with us

Recent Posts

Government urged to review Stamp Duty holiday deadline

Industry chiefs warn “holiday” needs to be extended or economy could take £4bn hit   Property industry leaders are pressuring the Government to extend the Stamp Duty holiday because increased pressure on service providers is causing huge delays for buyers and sellers. A joint letter – sent to the Chancellor, Rishi Sunak, and signed by …

Read more...

Green solutions to break up interior monotony

Tall, elegant houseplants can add a vivid flourish to today’s clean and clinical home. And, surprisingly, some do more than just look good Back in the day, when lava lamps and Hostess tea trolleys were all the rage, no self-respecting home was without a rubber plant; an ungainly, spindly, temperamental thing with large, glossy green …

Read more...

Halloween Party at Home

Halloween will, like most of 2020, be a different experience this year, however, we have a great guide to make it special at home…   Halloween has always been about Trick-or-Treat, pumpkins and decorating your house, however, this year, with Trick-or-Treating all but off the schedule, we thought we would look at the ways to …

Read more...

Spooky places to visit in the UK this Halloween

It’s that time of year where we are all looking for a good scare and where better to start than some of the most terrifying places around the UK…   On the build-up to Halloween, some of us get comfy on the sofa with a good horror film, while others are more adventurous. If you …

Read more...

Kit out your kitchen

With the kitchen one of the hubs of the home, it’s key to ensure that you have everything you need to make it fully functional Like any good workspace, your kitchen needs the right tools. Having these to hand will ensure you cook up a storm in no time. But fear not, we tell you …

Read more...