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05Mar

Welcome to the March 2021 Property Market Comment:
Fortunately for the property market, there was no immediate bad news in the budget this week.
In a nutshell, nine months ago, the government sought to bolster the economy in Wales by helping the property market, by the temporary removal of Land Transaction Tax (Stamp Duty) on a property purchase up to £250,000. That concession was due to end on 31st March. The deadline has been extended in Wales until 30 June. In order to benefit, the transaction must complete before 1st July 2021 (the new deadline).
So that’s really good news for the property market and we expect this to herald what is already looking like a very busy spring and summer market ahead of us.
This Government clearly believes in home ownership and especially helping first time buyers get on the property ladder. As we know, high property prices have made that difficult, due to mainly young people requiring large deposits of maybe 10% of the property’s value. So the government will now be guaranteeing the loans of banks that are prepared to lend to any buyer with just a 5% deposit. So that’s 95% mortgages available once more, up to £600,000.
Interest rates, for the time being, remain incredibly low and the government is controlling unemployment by extending the furlough scheme until the end of September when most businesses are expected to return to pre-pandemic levels of employment.
Britain has proved once again that we are extremely good at weathering storms, as proven by our amazing vaccine roll-out programme, confidence levels are already beginning to improve.
We have very high hopes for the rest of this year, so if you’re contemplating a move during 2021, now would be an excellent time to take action.
Why not call us for a confidential initial discussion on potentially marketing your property on:
#Holyhead 01407760500
#Llangefni 01248751000
#Bangor 01248355333
#Caernarfon 01286677775
#Property Management 01248724040
#Property #Auctions 01248753939
The Guild of Property Professionals
©Copyright 2021 Williams & Goodwin The Property People Ltd.

26Feb

A year like no other

2020, a year in which the housing market defied expectations. At 7.6%, annual price growth across the UK is at its strongest since the summer of 2016. Over 129,000 homes are believed to have changed hands in December, 32% more than in December 2019 with sales for the year projected to be just 11% lower than in 2019 (HMRC). The mortgage market has recovered. Approvals in 2020 were up 3.7% on the previous year (Bank of England) and with an estimated 9–10% more sales agreed in 2020 than in 2019, the start of 2021 has been positive.

 

mortage approvals national statistics

 

Supply demand imbalance

The third national lockdown has exacerbated the supply demand imbalance evident across the housing market since the autumn. Rightmove reported its busiest ever start to a year, with demand up 12% and sales agreed in January up 9% year on year. However, new supply to the market has fallen by 12% and the number of homes for sale by 6% as new sellers remain cautious while restrictions remain (Zoopla).

 

property sales statistics 2020

 

Economic backdrop

Activity in the market is set against a backdrop of continued economic and consumer uncertainty. The UK economy shrank by a record 9.9% over 2020, despite growth of 1.2% in December. Although consumer spending fell sharply in January as restrictions were tightened, the vaccination rollout is on target and there is some optimism that restrictions may start to ease in the near future. The Chancellor’s Budget on 3 March will set the tone for the year ahead, the economy currently forecast to return to pre-pandemic levels during the final quarter of 2022 (OBR).

 

house prices statistics

 

Rental market

Average rents across the UK rose by 1.4% in the year to December, on par with growth throughout the year. Agents in virtually all parts of the country envisage rents rising over the near term, London the notable exception as supply continues to considerably outweigh demand (RICS). As in the sales market, interest in rental property out of city centres has surged. However, the majority of renters move less than five miles between tenancies.

 

gross income spent on rent Dec 2020 statistics

 

Regional Reports

Browse our Regional Market Report: 

●          https://pageturner.guildproperty.co.uk/guildreportsnorthwestspring2021

 

Contact us today

To see a full copy of The Guild’s spring market report and for further guidance on the home moving process, take a look at the regional property market updates or get in touch with your local Guild Member office today at Williams & Goodwin The Property People Ltd.

Thinking it could be time to sell your home? Book a valuation to see if your house price has grown. 

 

24Feb

RELAX, YOU’RE IN SAFE HANDS

We have just been awarded the Silver award in Sales and lettings in Wales by The Guild of Property Professionals, sponsored by The Telegraph.

As the exclusively chosen Guild Member in this area, and a winning agent in this region, we can deliver an unrivalled property service. Thinking of selling or letting?

Contact us to find out what your property is worth today. See more at www.tppuk.com

#Holyhead 01407760500

#Llangefni 01248751000

#Bangor 01248355333

#Caernarfon 01286677775

#Property Management 01248724040

#Property #Auctions 01248753939

#williamsgoodwin #movingtogether #Anglesey #Gwynedd #propertymanagement #sales #properties #realestateagent #NorthWales Melfyn Williams Tim Goodwin

25Jan

Need Some FIBRE in your day… 

With the current pandemic & the need to stay at home we have in the last 12 months been offering virtual meetings with prospective landlords and sellers & virtual viewings for interested parties to see a property. 

 

Wouldn’t it be great if fibre was switched on here, there and everywhere, for everyone to take advantage of?  

 

Melfyn Williams from WGTPP commented:

“The speed of internet in some parts of #NorthWestWales could do with improvement, people need support who now have to work at home, and from our viewpoint, better internet speed times would help prospective customers who at times are “buffering” on viewing property”.  

 

Tim Goodwin co founder at Williams & Goodwin added:

Are rural areas being disadvantaged?  Just putting it out there - Please BT, or whoever can help get fibre switched on, is it possible to speed up the switch on in all areas?”

 

In the meantime, the virtual part of Williams & Goodwin  service remains active - despite the slower pace of the internet - action still happens, we’d just like it to be better for you - to meet your demands and ours. Please don’t hesitate to contact your local office for a free virtual or physical overview, with a smile and no obligation, no paperwork, no fuss in a safe manner.

 

#Llangefni 01248751000 #Bangor 01248355333 #Holyhead 01407760500 #Caernarfon 01286677775 #Lettings 01248724040 #Auctions 01248753939

 

#property #people #stayathome

#movingtogether #williamsgoodwin #allwalesauction

#alwayshereforyou

Proud Members of The Guild Of Property Professionals

 

©Copyright 2021 Williams & Goodwin The Property People Ltd.

21Jan

Transaction time slashed by 30% on December completions:
Without added new technology, just great communication and a willingness by everyone involved in the chain, average time from Sold stc to exchange of contracts reduced from an average 14 weeks to an average of just 10 weeks in December.
The trend in recent times has seen transaction periods become longer taking around 14 or 15 weeks to reach an exchange of contracts from date a sale was agreed. Perhaps more urgency was required as pent up demand was wanting to get on with it and be in by Christmas? Perhaps it was the need to beat the LTT deadline in March? or Perhaps this demonstrates when the desire is there, it can be done - especially if co ordinated by a team of property professional at the hub of the transaction.
Williams & Goodwin The Property People Ltd with office in North West Wales noticed the pre Christmas rush this festive season. Despite increased numbers of transactions the time taken to exchange had reduced on the December transactions.
“When completing the statistics, we have taken out our auction lots as they typically go from on the market to sold & exchanged within four to six weeks and we have taken out our new home sales as they typically have a longer period while waiting for the property to be built and we are delighted that some of our customers have been able to move quicker in these challenging times - we hope the trend will continue into 2021”. Commented Melfyn Williams from the Llangefni office of the four office firm.
Tim Goodwin from the Bangor office added:
"Please don’t hesitate to contact your local office listed below for a free “virtual” or “physical” overview, with a smile and no obligation, no paperwork, no fuss in a safe manner".
 
#Llangefni 01248751000
#Bangor 01248355333
#Holyhead 01407760500
#Caernarfon 01286677775
#Lettings 01248724040
#Auctions 01248753939
 
©Copyright 2021 Williams & Goodwin The Property People Ltd.

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