Property sales up by a third in December!

Property sales up by a third in December!

Quealy & Co have learnt from their expert property market analysts that the property market throughout 2020 was not as severely affected by Covid-19 as first thought.

An estimated 1,041,610 residential sales completed in 2020. In spring the housing market paused for several weeks due to the first national lockdown and despite this, sales were down by only -11% on 2019. However when the first lockdown was eased, there was a mini house price boom!

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129,400 homes changed hands in December 2020. That’s 32% higher than December 2019 and a monthly increase of 13%.

According to Rightmove, there were 10% more sales agreed in 2020 than in 2019. Zoopla reported a 9% annual increase in sales agreed.

Property transactions will continue to remain higher than normal as sales agreed in 2020 continue to exchange over the next couple of months to try and beat the fast-approaching stamp duty holiday deadline.

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How much is your property worth?

UK house prices increased by 5.4% to £245,443 in the year to October 2020.

If you are wondering how much your property is worth in the Sittingbourne area then get a free estimate of your home’s value with our instant online valuation tool: click here. Alternatively for a more accurate market appraisal of your home, get in touch with our team on 01795 429836 or email hello@quealy.co.uk.

Source: Dataloft, HMRC, seasonally adjusted transaction figures.