Housing market’s busiest month for over ten years
|Author: Craig Bees||Published: 8th September 2020 11:35|
Record sales: 20% increase on previous August high
Since we re-opened our offices in June we have never been busier, which is highly unusual for the summer months, part of a sustained trend that has been reflected nationwide with the release of Rightmove’s latest house price index that shows the highest number of monthly sales in more than 10 years in August.
Yes, ten years! Sales are up an incredible 20% on the previous high with a record total value of over £37bn.
Like other agents we usually experience a seasonal slowdown in activity over summer as buyers and sellers focus on their summer holidays. But, given the coronavirus restrictions, movers in the Towcester area are placing more property on the market and have agreed more sales than we have known for a long time.
Prices also usually fall in this period but nationwide there have been monthly price increases in 10 out of 12 regions, with a record high in new seller asking prices in seven of them.
Evidence of a “mini-boom” first emerged in July’s figures, which showed the average asking price of property coming to market was up 2.4% compared to March, before lockdown measures were announced.
The Government reopened the UK housing market on May 13 after lockdown and then announced a stamp duty holiday to reignite the housing market.
Our Towcester office has noticed an added layer of additional demand due to people’s changed housing priorities after the experience of lockdown. Most people have not gone on holiday but stayed in the UK and got on with buying and selling.
Pent-up buyer demand is a key factor for this increased demand for living space and gardens. As many of us continue to work from home, people have realised business can function well while doing so and commuter demand has increased because of this.
For the Towcester area, we have seen greater demand to live in rural locations providing green space such as ours, helped by the stamp duty holiday. The figures are extremely positive but unlikely to lead to a sustained boom in prices.
Badby & Farthingstone CC: with the nights drawing in curtailing anymore midweek T20 matches, since the last update only two Sunday games have been played – an exciting winning finish at long-time rivals Everdon followed by a not so exciting defeat at home to Crick Lions.
At Everdon, the home side made 122 with the wickets shared by Jude Dyke, Jordan Shingler, Ryan Haynes and Grady Nightingale. In reply, excellent batting by Kieren Bennett, captain Charlie Ashmore and man of the match Ryan Haynes saw the visitors home by one wicket, another close, exciting win.
The following week saw Crick Lions made 102 off their allotted 30 overs, a lowish total thanks to fine bowling from the Osborne father (Alan) and son (Harry) combination, ably assisted by Malcolm Alphonso and captain Charlie Ashmore.
In reply the home side soon found themselves in trouble as the visitors hit back with some effective bowling of their own. Only George Whitcroft White and Harry Osborne provided any resistance as B&FCC were skittled out for just 48, by far their worst batting performance of the season.
With the return fixture taking place the weekend after next, the team have a quick opportunity to make amends for this poor display.
Club news and fixtures – see club’s Facebook page http://ow.ly/nKPs50APtiP
Help to Buy Scheme: available on all Moat Lane development properties in Towcester with part exchange also considered. Contact us on (01327) 359164.
Monthly draw: the September draw gives you a chance to win a case of Italian wines (red/whites/mixed) or one month’s membership at Whittlebury Hall Leisure Club.
How To Enter: every valuation and instruction for sale or rental between now and Friday September 25 2020 will be entered, the winners being notified by e-mail.
If you’re thinking of selling or letting your property and want to win one of these great prizes on offer call (01327) 359164 and speak to our sales or lettings team.
Until next time.
Craig Bees, MD Bartram & Co
E-mail me at email@example.com
Tel: (01327) 359164
Fax: (01327) 359166