Has there ever been a better time for St Neots home sellers?
The St Neots property market, for people looking to sell, has been at its sturdiest for at least the last five years with home buyers jumping onto the St Neots property ladder with abandon!
Fears of a cliff edge for the St Neots housing market at the end of March and into April have dispersed and house prices are now anticipated to rise throughout 2021. The Stamp Duty cut and its subsequent extension until the autumn, and the newly revealed 95% mortgages for St Neots first-time buyers and St Neots homeowners with minimal equity being some of the reasons why.
In addition, the continued low interest rates and the demand for larger homes because of lockdown means the St Neots property market should remain bullish for a while.
Overall, there is a surge in potential buyers putting themselves on our mailing lists, making the biggest disparity between supply and demand for St Neots property for many years, meaning that today …
…70% of St Neots properties on the market are Sold (STC)
It’s interesting to note, when utilising data from theadvisory.co.uk website, that the St Neots average for the last five years has only been 52%, meaning there has been an uplift of 34% in the proportion of St Neots properties sold (stc) compared to that five-year average.
But don’t forget that 9 out of 20 St Neots house sellers are also St Neots house buyers, so while they achieve a higher price for their St Neots property, they also have to pay more for the St Neots property they want to buy.
So, how much will St Neots house prices rise by?
Like all things in life, it’s all about demand and supply. We’ve looked at the demand, what about the supply of properties for sale?
There are 17% fewer St Neots properties for sale today compared to 6 years ago
Whilst February saw a lower-than-normal level of new properties coming onto the St Neots property market, the easing of the lockdown roadmap and faster rollout of the vaccine is also persuading more St Neots homeowners (especially those older St Neots homeowners who have had their jabs) to start taking the first steps towards moving home in 2021.
This will mean there will be more St Neots properties available for sale in the conventionally busier post Easter market which should help keep St Neots property prices in check.
These are interesting times for the St Neots property market. If you are a St Neots homeowner or St Neots landlord looking to buy or let your St Neots property in the coming weeks or months, don’t hesitate to drop us a line to discuss what all the points raised in this article mean to you.