5 good reasons to move house – seize the moment
This article in Property Reporter caught our eye at the start of last month: Why you shouldn’t let the pandemic stop you moving home.
Zah Azeem, Partner at Scrivener Tibbatts says: “The rules are constantly changing, so it’s easy to imagine that for homeowners on the move, these are tense times. However, the Stamp Duty holiday runs until the end of March and for those people who might be thinking of down-sizing house prices in London have increased 10 percent in some districts – so now could be an ideal to cash in on all that financial equity stored in your family home.”
It’s not just Azeem who thinks the start of the year is a good time for renewal. Property Reporter quotes Jacqui Harley, Head of Conveyancing at JMP Solicitors: “Since the easing of COVID-19 restrictions over the summer, the housing market has enjoyed a period of buoyancy, which is still continuing despite the second national lockdown and new tiered restrictions.
“Whether you’re looking to get on the property ladder, move home, buy additional property or add to your investment portfolio, now is a good time to purchase a property in this current climate, as the market is particularly strong.”
Here are five reasons Property Reporter suggests now is a great time to move home:
1. Property transactions are still permitted by the government, and solicitors and estate agent firms are allowed to remain open to the public during this time.
2. Since the easing of COVID-19 lockdown measures over the summer, the housing market has enjoyed a reboot and that growth has continued.
3. The stamp duty holiday remains in place until March 2021, for homes up to £500,000.
4. Planning your property move now means you could be settled into your home by early 2021, or at least spring.
5. The government remains keen to support the housing market as much as possible during COVID-19 restrictions and is actively encouraging lenders to offer favourable terms, to help home buyers and property investors secure their purchases.
Zah concludes: “The housing market remains strong with homes selling quickly, even before property particulars and brochures have been prepared. Local authorities and the HM Land Registry are also speeding up their activity and clearing backlogs from recent months, which is preventing delays.
“It is always worth speaking to a trusted advisor to work through the different options open to you at this time so that you can navigate the routes best for you.”
If you would like to discuss something related to a valuation please contact Zah via email at firstname.lastname@example.org or call 020 8947 7040.