< Back to blog

Figures show healthy start to year for property market Posted On 22 January 2021

Online giant pinpoints reasons for upsurge hours after hopes to extend Stamp Duty deadline hit a snag

 

Latest figures show the property market has made a buoyant start to the new year – thanks to the Stamp Duty holiday, virtual viewings and other innovative ways estate agents are helping buyers and renters.

Rightmove, the country’s largest property website, today reported their busiest start to a calendar year, with a staggering 30 per cent rise in traffic, year on year.

They say there has also been an 11 per cent increase in sales enquiries to agents with a 22 per cent upsurge in rental interest.

As well as people re-evaluating where they live, the impending end to the Stamp Duty break and the fact the housing market has remained open have been pivotal in the positive performance in the early days of 2021.

Rightmove’s property data expert, Tim Bannister, said the high levels of demand were hugely reassuring for the industry.

“January is usually one of our busiest months of the year as people start to make new year plans, as was the case last year when we also had the post-election bounce that gave hope of an active spring market,” he said. “That all changed with the temporary closure from March until May.

“We didn’t know how this year would start, with so much change and uncertainty around restrictions, but it has been reassuring for those people hoping, or needing, to move that the demand we’ve seen so far is the highest we’ve ever had in January.

“The housing market has been allowed to stay open, and agents have spent months working in a COVID-secure way and creating a number of property videos. So buyers and renters starting their search this year will find that, alongside the safe viewing protocols, more agents are offering virtual viewings to help buyers and renters better shortlist the properties they want to go and see.”

However, hopes to the extend the Stamp Duty break – due to expire on March 31st – have been dealt a blow.

An online petition urging the Government to move the deadline to September attracted 119,000 signatures, exceeding the number needed to trigger a debate in the House of Commons. That was expected to be held this week, but Jacob Rees-Mogg, the leader of the House, has now temporarily suspended debates because of COVID restrictions, raising fears it may not be heard in time.

There are 33 so-called petitions debates waiting to be heard, and Catherine McKinnell, the chair of the Petitions Committee, has called on the Government to urgently review the decision. “I hope that in the coming weeks the Government will bring forward plans to make sure these debates can restart these debates as soon as possible, including as many MPs as possible,” the Labour MP said.

< Back to blog

Connect with us

Recent Posts

You’ve got a Friend in Me

Celebrate International Day of Friendship with your best ones   Friendships help our lives have purpose and meaning. Research has shown that having strong friendships can allow us to live longer, be happier and lead healthier lives. When you are younger, your family are your first port of call for advice and care. As we …

Read more...

Melt-proof your Make-up

How to beat the July heat   Heat and humidity aren’t your best friends when it comes to creating a flawless make-up look. Panda eyes from mascara tracks making their way slowly down your cheeks, oily skin where your foundation has become smudged and is now offering a patchwork effect rather than coverage. Combine this …

Read more...

Having Fun from Home this Summer

As we approach another British Summer, attention will inevitably turn to occupying the kids throughout the school holidays   We know how hard it can be to continue to entertain them, so take a look at our list of recommended activities to get them excited, without having to leave your home.   Get Creative If …

Read more...

DIY or better yet DIT (Do it together)

Projects your Kids can help with   Completing a task together is a great chance to bond with your kids and the sense of accomplishment you will both feel when you have created something together is unbeatable. Getting kids involved with small scale DIY, or the newly named DIT, projects will build up a bank …

Read more...

A Decluttered Home leads to a decluttered Mind

Easy Decluttering Tips   Clutter can easily build-up. The unopened post by the front door. The shoes which seem to be littered in every room of the house. The items you use all the time which never seem to find a home. Living in a space which seems ‘full’ or ‘busy’ means it can be …

Read more...