Property Market Update

We know there’s a property boom when adverse events that might otherwise have knocked the market off course fail to do so. Whilst we entered into Lockdown 3 at the beginning of the year it did not dent the enthusiasm for property purchase, nor did the threatened end of the stamp duty holiday or the potential post-furlough unemployment spike.

In fact, we are now seeing a property buying demand reminiscent of the 1980s boom.  It’s clear that the public is back in love with home ownership and demand does not appear to be subsiding!

The extension of the tiered stamp duty holiday, which will now finish at the end of September, gives buyers who had put things on hold the opportunity to save money and still have the move of their dreams. The budget also included a mortgage guarantee scheme to help people get on the property ladder by offering incentives to lenders to provide 95% mortgages.

We all look forward to the stepping stone retreat from lockdown and as many people continue to plan new ways of working between office and home, there are compelling new opportunities for buyers looking for their first homes or for buyers looking for homes with more space in different surroundings.

Whilst we may see holiday home and investor buyers in the market, we also see strong activity from local buyers. We have property experts on hand to help you with your house move, so if you need any help and assistance, please call your nearest PFK office.

Lynne Lancaster - Head of Estate Agency 

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Friday, 29 March 2024

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PFK Estate Agency in Carlisle, Cumbria

Head Office, Agricultural Hall, Skirsgill, Penrith, CA11 0DN