We thought we’d share the latest local market updates we have for you as there have been some changes in terms of the stamp duty holiday ending. Also in the past summer may have sometimes been seen as a quiet period for the property market - but we have news – not this year!
Considering what a year it’s been research from the Nationwide found the cost of UK homes rose 13.4% in the year to June - the quickest pace since November 2004! Whilst the stamp duty holiday motivated some buyers to move, the pandemic has played a more significant role in changing people’s views on what they really want from their homes and the accompanying lifestyle, such as things like outdoor space, how near they need to be to a City or Town for work, and also being nearer to loved ones and family.
Around the local Surrey/Sussex border we have seen huge demand for people looking to move to the area, and there is a shortage still of available properties, this will keep the market busy we believe for some time to come.
This year with many not heading off on Summer holidays abroad their property searches are still continuing, and people are around to attend viewings and open days. There is a driver for many families to be able to move over the summer holiday period and be ready to start the school term in their new home.
Although in September the furlough scheme will have properly wound down by then, this is unlikely to influence the Southeast property market, as demand has nearly always outstripped supply.
Cranleigh and the surrounding area truly offers something for everyone in terms of style of property and whether you want to be in the heart of the village, or on the outskirts in a more rural setting. We think this means that buyers will continue to be attracted to either stay in the area, or look to move here from other areas.
If you are thinking of moving and would like our advice regarding a valuation of your property or more information about the current market please do get in touch, as we are always happy to help.