The Impact of COVID-19 on the UK Housing Market

The past year has seen remote working become the norm, never-before bakers become sourdough experts and, until recently, our homes become our entire worlds. COVID-19 has caused some major shifts in the housing market but we at Thomas Marsh are poised to make these new opportunities presented to us as valuable as we can for our clients.

Firstly, it seems the market’s concerns over a housing market crash were almost entirely unwarranted. For the first time during an economic recession, house prices in the UK saw a steady increase and it is predicted that these could experience an extra 4% rise during 2021 should the economy continue its steady recovery.

Demand for housing is also continuing to increase and the average time it takes to sell a property has reached the lowest number of days since before the pandemic began. COVID-19 has seen buyers’ priorities shift massively. Whereas prime business locations were previously the most desirable, buyers are now much more in favour of properties offering garden spaces, for example, with many having realised the importance of these over the course of multiple lockdowns.

Furthermore, with the extension of the stamp duty holiday, buyers can continue to take advantage of a tax-free threshold of £500,000 until 30th June.

What does this mean for YOU?

The increase in house prices means we can negotiate for higher prices for your property. Prices are inflating quickly but our ever-expanding expert team is on hand to ensure we operate in accordance with the most up-to-date market knowledge to ensure you the best deal possible.

Furthermore, the team at Thomas Marsh want to let you know that your support for us during such a tumultuous year hasn’t gone unnoticed. We as a company already highly value integrity and transparency and, for the next three months, we are to offer our clients our top marketing package for a discounted 1% fee. Within this, you will receive the highest of marketing packages: property appraisal in line with the most up-to-date market statistics, professional photography and video tours, effective marketing of your property to ensure maximum exposure to potential buyers, and more. No hidden costs, no extra fees. 

Now, almost halfway through 2021, and despite the fact that the trends in the sector may never resemble anything seen pre-pandemic ever again, we are looking forward to a bright future in real estate. We are confident that the high levels of activity within the sector will continue and hope that we can put the uncertainties that the past year has brought behind us and take advantage of every new opportunity presented. We remain cautiously optimistic and vow to make sure we closely follow any shifts in the market and economy to deliver the best service possible to you.

To take advantage of our discounted prices for our premium marketing packages, or for information on any of our services, do get in touch with us today on 01375 370 779.

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