Property Market Update: September 2020
September 1, 2020

By Peter Lane & Partners

After returning from lockdown at the end of May, Peter Lane & Partners have experienced a high level of enquiries for both selling and buying properties.

We believe pent up demand during lockdown and the announcement by Chancellor of the Exchequer, Rishi Sunak, that there will be a stamp duty holiday until 31st March 2021 has fuelled this dramatic surge in business. Producing much higher than average sales figures for both June and July with August on course to continue the trend.

As a company which has worked in the local community for 30 years, we have a great deal of experience in successfully dealing with such high levels of business, however, high praise should be given to all our staff for working effectively and safely during these challenging times.

Although some of the more pessimistic views suggest there will be a drop in house prices by the end of the year, however, there seems little signs of that at the moment with Rightmove reporting an increase in house prices in most parts of the country since May of this year. We may see a levelling off in house prices in the future, however, as we know the housing market is cyclical and will always recover from any slight downturn, we also sometimes forget that your property is your home and no matter what house prices do in the short term, they will inevitably increase in value over time.