KFH sees surge in sales demand triggered by the stamp duty holiday
25th August, 2020
Although the sales market picked up considerably post lockdown, the stamp duty holiday has prompted a significant spike in activity from people looking to buy and sell. As a result, KFH has seen unprecedented demand, especially for the summer sales market.
Robert McLaughlin, sales director at KFH, comments: “The increased appetite from buyers and sellers has translated across all price brackets, with more rooms and outside space a top priority from buyers. The most sought-after properties in our portfolio are two bedroom flats with garden space and family homes priced between £600,000 and £1,000,000.”
Buyers
Buyers are entering the market in droves as confidence grows and restrictions continue to ease.
Robert continues: “Over the past six weeks, we have seen a 50% year-on-year uplift in buyer registrations, with the biggest increase in the £600,000 to £700,000 bracket. This may well represent a surge in buyers looking for additional space, whether that’s a work from home area or a garden.”
“Buyers registering between £800,000 and £1,000,000 rose by 53% year-on-year, highlighting the swell in demand for larger family homes.”
Valuations, instructions, offers and sales agreed
The number of valuation requests and instructions taken on across KFH shot up by 80% and 86% respectively. The trend continues in the number of offers and sales agreed, with KFH reporting marked increases in these categories.
Robert elaborates: “It will be interesting to see if the demand continues to buck seasonal trends between now and when the stamp duty holiday ends on 31 March 2020.”
If you are interested in finding out more about the sales market, please get in touch with our team via the KFH branch finder. Alternatively, you can book a valuation here.