Friday, March 26, 2021

Has there ever been a better time for Holme Valley home sellers?


The Holme Valley property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Holme Valley property ladder with abandon.


Holme Valley house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the summer/autumn) and the newly revealed 95% mortgages for Holme Valley first-time buyers (and Holme Valley homeowners with minimal equity).


In addition, the continued low interest rates and the demand for larger homes because of lockdown, means the Holme Valley property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Holme Valley estate agents, making the biggest disparity between supply and demand for Holme Valley property for many years.


Fears of a cliff edge for the Holme Valley housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021 meaning that today …


62% of Holme Valley properties on the market are Sold (STC)


Interesting, when utilising data from theadvisory.co.uk website, the Holme Valley average for the last five years has only been 37%, meaning there has been an uplift of 67.4% in the proportion of Holme Valley properties sold (STC) compared to that five year average. 

Yet what can’t be forgotten is that 9 out of 20 Holme Valley house sellers are also Holme Valley house buyers as well, so whilst they do indeed achieve a higher price for their Holme Valley property, they also have to pay more for the Holme Valley property they want to buy.


So, how much will Holme Valley house prices rise by? 


Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?


There are 65% fewer Holme Valley properties for sale today compared to 6 years ago


Whilst February saw a lower than normal level of new properties coming onto to the Holme Valley property market, the easing of lockdown road map and faster rollout of the vaccine is also persuading more Holme Valley homeowners (especially those older Holme Valley homeowners who have had their jabs) to start making the first steps towards moving home in 2021.


This will mean there will be more Holme Valley properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Holme Valley property prices in check.


These are interesting times for the Holme Valley property market. If you are a Holme Valley homeowner or Holme Valley landlord looking to buy or let your Holme Valley property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in this article mean to you.


Sincerely, James