Is now a good time to move? What has the global pandemic done to house prices in the region? Local estate agents James Du Pavey’s latest reports shines some lights.
James Du Pavey likes to think of themselves as the community’s local property resource and as such keeps a sharp eye on the housing market. Each quarter they prepare a full regional housing report, and you can see these in the links below.
To give you a flavour, things are generally on the up all round! House prices are up by 7.6% to a four-year high and mortgages are easier to come by with the approval rate increasing by 3.7%. Good news really as so many people are keen to get going with sales up by a whopping 31.5%!
In the extended area, things are looking healthy! Nearly 5 out of every 100 houses in Cheshire East are selling each year, the highest in the north-west with an average house price of £248,970! Stafford is close behind, with nearly 4 out of every 100 houses changing hands each year, averaging £227,113.
Are you looking to make the move this year? With huge Stamp Duty Holiday savings to be made, and with the strong market conditions, there may never have been a better time.
Looking forward, the hope is that these figures continue to improve as spring kicks in and lockdown measures begin to ease all spurred on by the extension of the Stamp Duty exemption for homes worth up to £500,000 until the end of June 2021 and the nil value threshold being reduced to £250,000 until September 2021.
Beyond that there’s excitement to see the impact of the government’s new 95% lending scheme which will help new homeowners and those with low existing equity, further supporting the housing market.
If you have any questions about the market, the experts at James Du Pavey are on hand to help. Just call the office on 01785 814917 and one of the friendly and knowledgeable team will be delighted to help.
