Target Property Services NE

Blog

01st April 2021

It’s still a great time to sell……

Thinking about moving? Think Target at: www.tpsne.co.uk

Most experts are seeing a ‘Post-Budget’ spike in demand for housing.

The Chancellor’s announcement of a stamp duty holiday extension and 95% mortgage guarantees created a 24% spike in buyer demand in England the days following the Budget, as more first-time buyers and movers entered the market.

Average buyer demand levels since the start of this year are running 13% higher than average levels across the whole of 2020. The largest post-budget bounce in demand was for three-bed houses – this type of home is attracting the largest levels of demand across the country.

However, there was also a noticeable spike in demand for one and two-bedroom flats after the Chancellor’s announcements, with increased buying intent among first-time buyers and those looking to take advantage of the new mortgage products, not to mention the remainder of the stamp duty holiday.

While there was a slight post-budget rise in supply, overall supply levels remain deeply constrained, with total supply this year down 13% vs the 2020 average. As lockdowns ease and vaccinations continue to be rolled out, we expect more pent-up supply to come back to the market as vendors feel more comfortable opening their homes for viewing, albeit with the usual seasonal Easter dip.

Increasing activity levels among first-time buyers, especially as they take advantage of more 95% mortgages from April 1st, will keep pressure on the demand/supply imbalance however, as these buyers have no properties to sell.

Related Posts

April 8th 2021

The Return of the First Time Buyer (FTB)

Just over 12 months ago, it was widely recognised that first time buyers were charged with driving

April 1st 2021

Outlook for the Housing Market

Outlook until the end of Quarter 2 in June 2021 The Chancellor’s announcement of a stamp duty

March 27th 2021

Renting a Property Legally

Are you a Tenant? – Already required by law, your Landlord has to provide you with a

Testimonials

Joe has provided a 5 star service. My mum’s rental property has stood vacant for some time as she has had an extended stay in hospital. He met me at the property within days of making contact, and found us a tenant within 3 days! He even treated the weeds, fixed a broken window and sorted out the safety checks for me. It took all of the pressure off and was a very friendly and professional service. I would highly recommend!

- Rachael

As a tenant, the service I received from Joe was extremely quick and professional. Everything I asked about was dealt with prior to me moving in and he is very responsive to any queries I may have. I would highly recommend Target Property Services NE.

- Barbara

My property was on the market with 3 other agents for over 2 months without any success. To be honest I felt they weren’t even trying. I thought I would give Target Property Services an opportunity to market my luxury quayside apartment as I had heard good reviews about them. Within 24 hours of them listing the apartment to let, they had 2 viewings booked in and within a week a new tenancy had been agreed. First class service at a very competitive price that puts others to shame, plus an unrivaled personal touch that cannot be found with any of the better known high street estate agents. I am now very happy for Target Property Services NE to market and manage all my property portfolio. Highly recommend.

- Chris

Joe has been our landlord for 5 years now and we cannot be happier. Renting from him has been an absolute pleasure. He is professional, helpful and caring, and if we ever have a problem, he is there to sort it out quickly and efficiently. The house we rent from him is lovely, and safety checks and boiler servicing are carried out regularly. We feel very much at home and cannot recommend him highly enough. Thank you Joe.

- Simon & Christine

I would highly recommend Target Property Services NE. Joe has been fantastic support to getting my first home and very quick at responding to any questions or queries I've had about the property. Very friendly and very professional.

- Grace

We had to organise our house move at short notice and although there was quite a lot of work to be done before we could move into the property, Joe went above and beyond to ensure everything was sorted for our moving in date. He is always very patient and quick to answer any queries and resolve any issues that may arise. We are very glad to be renting one of his properties and we cannot recommend his company highly enough - Elliot

- Elliot and Kana