High demand is ‘creating a frenzy around properties as soon as they hit the market’
According to Twenty CI, almost 162,000 property sales were agreed last month during March, which is the highest level recorded by the property data and statistics provider since datasets.
Since the stamp duty holiday was introduced in July last year, only two months are missing from the top ten all-time list in terms of sales agreed, which were December and January.
The mid to upper priced properties are the driving force behind the current high levels of demand in the housing market. This stands to reason, as homes priced above the £500,000 stamp duty threshold would have to most if benefit from the tax relief, that is provided they are able to make the deadline at the end of June.
Demand is outstripping supply which is creating a frenzy around properties as soon as they hit the market. It is not uncommon for an agent to have multiple offers on a property within days of it listing, which has result in many properties currently selling over asking price.
OneAgency offer FREE valuations and can give expert advice on the current market whether looking to buy, sell or let a property. We cover the whole of Stoke-on-Trent and surrounding areas.