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For every property professional that was hoping now was the time to take a break from the huge number of moves since May 2020, it appears for many, that’s still not going to be easy. Although some reports suggest the market may be softening, most are still talking about buyers outstripping sellers and prices are definitely remaining stubbornly high – on average! Read my article to find out what's really happening in your area.
I find it amazing that every year we hear and read the same news stories on new builds - developers land bank to secure higher prices and raise profits; local authorities are granting planning permission and it’s developers that aren’t building. Both of these stories I think have been going ever since I have been in the industry – and that’s decades! This week there has been some research published that does suggest that developers hoarding land after securing planning is unlikely to be correct. To find out more, read my article.
It’s great to see new indices with more information about moving home to come to market, and both OnTheMarket and reallymoving have come up with very different ways of adding to our understanding of what’s happening. Read more to find out how can these new property indices can help us understand the market better.
The indices this month are still incredibly positive, despite the end of the Stamp Duty/Land Tax holiday. All are reporting the market is slowing versus the run up to the end of June, but versus previous years, demand is still incredibly strong, while the amount of stock coming onto the market is weak in most areas. Perhaps the most exciting thing from a property price/home moving index perspective is the launch of two new fascinating indices. One from OntheMarket and the other from reallymoving.com which compares costs for solicitors, surveyors and removals for home movers. Both of which give us a better understanding of the overall housing market with their different analysis.
This report is to help give everyone – industry and consumers – a quick five minute guide to what’s happening in the property market, according to the property indices, along with property expert Kate Faulkner’s comments. Read more to find out which cities and towns are performing well or struggling; how to use the town/city data when buying or selling or assessing your own property market as a professional; why demand and supply can be very different for a sale and for a purchase within a local area and much more.