Online giant pinpoints reasons for upsurge hours after hopes to extend Stamp Duty deadline hit a snag
Latest figures show the property market has made a buoyant start to the new year – thanks to the Stamp Duty holiday, virtual viewings and other innovative ways estate agents are helping buyers and renters.
Rightmove, the country’s largest property website, today reported their busiest start to a calendar year, with a staggering 30 per cent rise in traffic, year on year.
They say there has also been an 11 per cent increase in sales enquiries to agents with a 22 per cent upsurge in rental interest.
As well as people re-evaluating where they live, the impending end to the Stamp Duty break and the fact the housing market has remained open have been pivotal in the positive performance in the early days of 2021.
Rightmove’s property data expert, Tim Bannister, said the high levels of demand were hugely reassuring for the industry.
“January is usually one of our busiest months of the year as people start to make new year plans, as was the case last year when we also had the post-election bounce that gave hope of an active spring market,” he said. “That all changed with the temporary closure from March until May.
“We didn’t know how this year would start, with so much change and uncertainty around restrictions, but it has been reassuring for those people hoping, or needing, to move that the demand we’ve seen so far is the highest we’ve ever had in January.
“The housing market has been allowed to stay open, and agents have spent months working in a COVID-secure way and creating a number of property videos. So buyers and renters starting their search this year will find that, alongside the safe viewing protocols, more agents are offering virtual viewings to help buyers and renters better shortlist the properties they want to go and see.”
However, hopes to the extend the Stamp Duty break – due to expire on March 31st – have been dealt a blow.
An online petition urging the Government to move the deadline to September attracted 119,000 signatures, exceeding the number needed to trigger a debate in the House of Commons. That was expected to be held this week, but Jacob Rees-Mogg, the leader of the House, has now temporarily suspended debates because of COVID restrictions, raising fears it may not be heard in time.
There are 33 so-called petitions debates waiting to be heard, and Catherine McKinnell, the chair of the Petitions Committee, has called on the Government to urgently review the decision. “I hope that in the coming weeks the Government will bring forward plans to make sure these debates can restart these debates as soon as possible, including as many MPs as possible,” the Labour MP said.
Connect with us
View by date
Buyer demand and house prices rising and new properties coming to the market are expected to rise in line with the schools going back The latest study by Rightmove shows that demand from buyers is growing, with numbers so far this year way ahead of last year, however, buyer demand is outstripping new supply. …Read more...
Light at the end of the tunnel, as Boris Johnson announces ‘Roadmap” out of Lockdown which could mean a return to normality in 118 days Yesterday, Prime Minister Boris Johnson announced the “roadmap” for easing restrictions in England and finally coming out of this long winter lockdown. The long-term aim is to lift all …Read more...
The top 5 gadgets that have made lockdown more bearable Over the past year, people have been finding new hobbies and gadgets to get them through spending so much time at home… While some have turned to Netflix and other streaming services, others have turned to consoles, while others have spent more time …Read more...
During these lockdowns, it’s important to stay positive and be comfortable in your surroundings, which is what makes the practise of Feng Shui perfect Feng shui was developed over 3,000 years ago in China. It teaches people how they can balance the energies in any space with the arrangement of objects. This could be …Read more...
Nasa Mars rover: Perserverance heads for touchdown on the red planet. After a seven-month, 470-million-km journey, Nasa’s six-wheeled robot is scheduled to land on Mars at 20:55 GMT today. Never has a science mission gone to the planet with so sophisticated a suite of instruments; never has a robot been targeted at so promising …Read more...