New buyers make January 2021 the busiest on record
- 12th February 2021
- Selling Property News
A third lockdown has created low supply and high demand in the UK property market
The high levels of activity in the UK property market show no signs of waning, with January 2021 the businest month on record for Rightmove. The site registered 211 million users, a record high, last month.
This comes at a time when the number of new homes coming onto the market is 12% lower than last year, according to Zoopla. With the Stamp Duty holiday due to end in March, buyer appetite has continued to gather pace amid a rush to complete transactions. Buyers are also keen to put some of the pent up £100 million in savings that the Bank of England suggests has been accumulated in 2020, to work.
The shortage of new properties coming onto the market coupled with the high activity levels has contributed to house prices in the UK staying firm. With people spending more time at home, many are deciding to purchase properties with greater indoor and outdoor space to meet their changing requirements. Properties with gardens and balconies continue to be in high demand and will likely become even more attractive in Spring and Summer.
Stephen Ludlow, Chairman at ludlowthompson says: “Buyer confidence has not been dimmed despite lockdown restrictions. Those looking to put their property on the market should be confident that they’ll get a good price, as demand continues to outweigh supply.”
“Increased time spent at home has caused many people to reassess what they want from a property. Initiatives such as the Stamp Duty holiday has been an excellent incentive for those looking to take the leap.”
“The property market is a crucial economic indicator and it should not be underestimated how important consumer confidence is during times of uncertainty.”
“We are taking all the steps we can to help buyers make purchases safely and securely during Covid-19. Customers should be reassured that agents are still here to guide potential buyers through the market and assist them, whatever their needs.
Ludlowthompson’s agents are continuing to offer prospective renters and buyers guided video tours of properties. In person viewing appointments complying with social distancing policies are available following virtual viewings.
This week’s video tour is a one bedroom flat in Tooting
We received 653 5-star Google reviews in 2020.
6,580 positive AllAgent reviews – Top 5 Agent in the UK (2020).
ludlowthompson staff are measured by how our customers rate them via 1,000s of questionnaires.
Every single questionnaire is read by Stephen Ludlow and David Thompson.
Louise via Google Reviews:
Had a great experience buying a property with ludlowthomspon, [they] have been great throughout the process. They have been super helpful and have come back to any enquiries or issues I've had super quickly. Would definitely recommend them!
Lucie via Google Reviews:
If you need help not stress, support not sales and real people knowing what you really want then talk to ludlowthompson. It was a genuine relief to meet them after several properties and far too many agents.. Responsive, calm and professional - and made things happen when I needed it most.
Buyer confidence has not been dimmed despite lockdown restrictions. Those looking to put their property on the market should be confident that they’ll get a good price, as demand continues to outweigh supply
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS