Midlands Homes Selling Fast
With the stamp duty holiday in place, it is no surprise buyers and vendors are keen to conclude property deals as quickly as possible. There has bene a lockdown period in England across November and December, but this time around, the housing market has remained open.
At Innovate, we are on hand to offer specialist support and guidance in the market, and we know people are looking for support and information right now. If you have any questions about the market, and what you need to do to make an informed move in the housing market, we can help.
Some homes are moving fast now
Zoopla has undertaken research into how quickly properties are moving these days. The fastest moving area in England is Waltham Forest, where properties stay on the market for an average of 24 days. This is an exceptional turnaround time, especially when you consider all the challenges people face in the market right now.
Tom Parker is the consumer spokesperson at Zoopla, and he said; “With a potential saving of up to £15,000, the rush from buyers to benefit from the stamp duty holiday is very much on. Of course, there is still a significant amount of work to be done once a property is under offer, but properties being snapped up quickly by eager buyers is the first hurdle to leap if you want to make that saving. We’d urge buyers to act quickly and decisively in their hunt for a perfect property. Any delay can not only mean you miss out on your dream home but could hit you in the pocket too.”
The Midlands is doing well in current housing market
It is notable that property markets in the East and West Midlands scored extremely well on the list. Towns listed in a 40-minute drive of Birmingham are in demand, and it seems as though buyers are keen to snap up property in these areas.
In seventh place was Redditch, Worcestershire, and properties here take an average of 27 days to sell. You also find Bromsgrove and Walsall, both in the West Midlands, and Stoke-On-Trent, located in East Midlands, taking an average of 28 days to sell.
You will also find properties in Nottingham, Gedling and Mansfield taking average of 30 to 31 days to sell.
It is fair to say if you are looking to capitalise on the stamp duty holiday, you should move sooner rather than later. However, you should also look to move in the most effective way. We can help.
We know these are challenging times, but at Innovate, we are here to help. If you have questions about the West Midlands property and rental market, get in touch with Innovate, and we will be happy to assist you.