Property Market Update: June 2021
June 1, 2021

By Peter Lane & Partners

As house buyers continue to fuel the post covid economy, the demand for housing continues to break

The number of properties selling over the original asking price hit an all-time high during April
according to data released by NAEA Propertymark. The average number of house hunters registered
per estate agent branch also increased month on month and the average number of sales agreed year
on year is the highest for the month of April since 2007.

The demand among buyers is driven by two factors: the first being, the stamp duty holiday, the extension
of this tax break has continued to boost activity. The second factor a “re-assessment of home” among
households, with some families needing more space due to a more flexible working pattern and older
homeowners looking for a lifestyle change. This has been driving the market since the end of the first
lockdown last year and we believe it has further to run.

With an imbalance between supply and demand, we recommend now is the time to contact us if you are
considering a move.