With so much uncertainty and ‘White noise” in the media just 13 days into the new year, we at Steele & Co Moving and Storage thought we would share some data with you, our clients.
Has there ever been more uncertainty in the housing market?
With calls for further lockdown restrictions, possible closure to the housing market again, and the end of the stamp duty break. Let’s hope for better times soon.
Amongst this uncertainty, we thought we would look back at the first 12 days of the year UK wide and compare it to the past 2 years – 2019 and 2020. Last year, we were at the start of the ‘Boris Bounce’, whereas in 2019 there was almost a full year of Brexit and General Election ‘noise’.
So with the rental market, we can see that although activity has picked up significantly from the festive period, volumes are down when looking at both To Let and Let Agreed properties in the first 12 days of 2021. Maybe due to people sitting tight until the economical storm has passed and clear skies prevail?
Steele & Co Moving and Storage receives its data weekly and what are seeing shows the sales market has recovered after Christmas and New Year this is further evident by the volume of actual moves we are undertaking in January, it’s been our busiest January ever. What’s different to the sales is that although the volume of new properties entering the market “For Sale” is down on last year, the number of sales that have been agreed is the highest it’s been in the past 3 years.
Despite the current volumes we at Steele & Co do have big concerns for the health of the market and believe the signs are already showing as we near the end of the Stamp Duty holiday, together with Lockdown 3.0 hanging over us all. I fear will also see the probable effects of demand outstripping supply in the market going forward. With fewer properties than buyers, this could see an increase in property prices.
This could be a good time to sell and rent, sit and wait to see what the markets do, Steele & Co offers Removals and Storage services throughout Winchester and Hampshire, for more information on our storage services follow the link: Storage