January Market Comment
January Market Comment

January 2021 started in very much the same vein as the end of 2020, Covid restrictions are still very much in the forefront of people’s minds and the limitations on personal movement have created an artificial backlog of pent-up demand in both the sales and the lettings markets.

Buyers are still very keen to take advantage of the stamp duty holiday and with murmurings that the scheme will not be extended past March, buyers are leaving things late to find a property in time to complete by the deadline. Eager buyers and time limitations will always see good quality stock sell well and the market is experiencing cases of sealed bids on many top properties.

Lettings is seeing fewer tenant numbers on viewings with applicants slightly more reluctant in the second lockdown to venture out. Video viewings and tenants taking properties via virtual viewing has become prevalent again but there is still no substitute to walking around a property with a well informed and knowledgeable estate agent.

London is starting to see the beginning of a slow trickle of overseas students returning for education, this influx will begin to hoover up the availability of one and two bedroom apartments and also houses designed for the sharer market. Now is a good time to secure a bargain property if you are looking in this sector of the rental market.

With the number of available listings coming down across the board and applicant numbers growing in both sales and letting are we beginning to see the start of the post pandemic recovery of the housing market. Strong demand and continued success in the fight against the global pandemic could see record transaction numbers in 2021.

This entry was posted in Publications by Landstones.