Property Market Update: October 2020
October 1, 2020

By Peter Lane & Partners

There seems to be no easing of the exceptionally busy sales market we have experienced since the beginning of June despite fears over the current furlough scheme coming to an end in October.

We believe the introduction of the Stamp Duty holiday will help keep momentum going, highlighting the negative impact that increased Stamp Duty has had on the property market since 2014 when the current system was brought in.

Buyers and sellers have more confidence taking advantage of the Stamp Duty holiday and low interest rates, however, due to affordability concerns by the lenders it is important that all buyers requiring a mortgage should speak to an independent financial advisor before taking the first steps to purchasing a property.

We work closely with Bright Advice who are experienced in the mortgage market and have access to exclusive mortgage rates not available on the high street.

Whilst the extent to which some of the exceptional trends will continue longer-term is not clear, in the absence
of nationwide COVID-19 restrictions we expect sales activity to be positive for the remainder of the year.