Hi everyone, I just thought I would give you a quick snapshot of the property market, and what is expected moving forward in my opinion.
Any questions, give me a shout!
The latest figure is showing we achieved 99.6% of the asking price in the Mansfield office from Jan-Dec 2021. This number has crept up and shows the commitment the team has to looking after our clients. The average house price really shot up last summer as more people wanted to buy than the number of sellers wanting to sell (hence why agents generally have little to sell compared to years gone by). I met with one well-known local agent and they shared a similar opinion last week.
Even on the rental side, we have multiple tenants walk into our office asking for anything new coming to the market for rent, and they know prices have also increased compared to not only a couple of years ago but even 6 months ago.
Many in the property world expected the market to slow down in Mansfield and the surrounding areas when the stamp duty holiday ended but, the figures do not seem to show signs of this. Solicitors have never been busier according to Tallents and Bryan and Armstrong.
January is also expected to be extremely busy for selling and renting a property in 2022, and will once again push the market to new highs in my opinion. People will likely need to earn more to keep up with pricing as homes are shooting up faster than wages earned. This will benefit many but, will also put a strain on first-time buyers and single occupants wishing to get on the ladder.
New Covid measures are expected to be implemented but, I feel the property market will still be as it was during lockdowns 1 and 2, resilient.
If anyone has any questions or would like a chat about property in general, please do not hesitate to reach out to me or one of my team.
I hope you and your families have an amazing Christmas & New Year,
Jordan.
