Although the sales market picked up considerably post lockdown, the stamp duty holiday has prompted a significant spike in activity from people looking to buy and sell. As a result, KFH has seen unprecedented demand, especially for the summer sales market.
Robert McLaughlin, sales director at KFH, comments: “The increased appetite from buyers and sellers has translated across all price brackets, with more rooms and outside space a top priority from buyers. The most sought-after properties in our portfolio are two bedroom flats with garden space and family homes priced between £600,000 and £1,000,000.”
Buyers are entering the market in droves as confidence grows and restrictions continue to ease.
Robert continues: “Over the past six weeks, we have seen a 50% year-on-year uplift in buyer registrations, with the biggest increase in the £600,000 to £700,000 bracket. This may well represent a surge in buyers looking for additional space, whether that’s a work from home area or a garden.”
“Buyers registering between £800,000 and £1,000,000 rose by 53% year-on-year, highlighting the swell in demand for larger family homes.”
Valuations, instructions, offers and sales agreed
The number of valuation requests and instructions taken on across KFH shot up by 80% and 86% respectively. The trend continues in the number of offers and sales agreed, with KFH reporting marked increases in these categories.
Robert elaborates: “It will be interesting to see if the demand continues to buck seasonal trends between now and when the stamp duty holiday ends on 31 March 2020.”