Market boom continues as supply shortage to last into 2022
The very strong housing market seen throughout this year is set to extend into 2022 as a stock shortage is forecast to continue. Zoopla says that notwithstanding the reduced level of activity since the stamp duty holiday deadline of June 30 was passed, there remains many signs of a strong market.
The portal, in its latest and highly detailed analysis of the housing market, says new listings are now running around five per cent below average, while increased activity amongst first-time buyers and investors is absorbing stock while failing to replenish it.
Zoopla suggests that first-time buyers have been increasingly active in 2021, supported by lenders who have reintroduced products that facilitate higher Loan To Value mortgages.
Meanwhile investor demand is also up more than 21 per cent compared to the 2020 average, boosted by stamp duty relief.
Finally, the supply of new homes, which has slowed in 2021 due to the temporary hiatus in the construction industry during the first lockdown, is down 11 per cent in England, and while supply has started to pick up again, the dip has had an impact on the volume of homes available to buy.
If you are thinking ahead and wish to explore your property sale options, give June a call on 07871957885 / 01505 613799, email email@example.com