In spite of the uncertainty surrounding the economy and the global pandemic, the housing market has been remarkably resilient and the high demand from 2020 has continued into 2021. Much anticipated news regarding the Stamp Duty situation is imminent, and any help in this direction will further fuel a buoyant market.
Supply remains at an all time low, and this, coupled with low interest rates is allowing prices to creep up. As Spring appraoches, we may see a greater supply and prices levelling in the months to come.
Our Peak Park offices have been particulalry busy over recent months, with buyers moving from the suburbs to countryside, record sales for our Bakewell branch have been helped by high levels of out of town buyers, and movement waay from the large towns and cities.
With continuing low interest rates, and likely further assistance to first time buyers, 2021 is likely to be another strong market, which will contradict what could be a tougher economic climate.
The last 12 months have been a rollercoaster of a ride for the housing market, and with times not yet back to 'normal' I can see this year following suit.
Chris Thomson FNAEA