Focusing solely on the housing market, it is fair to say that this has been an eventful year. The stamp duty holiday transformed the market and buyer behaviour, and it has affected the market.
The stamp duty holiday created more demand, further outstripping supply of property, and this has led to house prices rising sharply.
How are house prices faring in Crowthorne?
As of the start of August 2021, Rightmove states house prices in Crowthorne are;
“Properties in Crowthorne had an overall average price of £523,698 over the last year.
The majority of sales in Crowthorne during the last year were detached properties, selling for an average price of £652,988. Semi-detached properties sold for an average of £449,790, with flats fetching £271,019.
Overall, sold prices in Crowthorne over the last year were 20% up on the previous year and 3% up on the 2017 peak of £506,696.”
The increase in sold prices over the past year is well worth considering. A rise of 20% in 12 months is a significant increase, and it means that many buyers might not have had much, if any, benefit of the stamp duty holiday.
It is one thing to receive a discount on the overall cost of a property purchase, but if the price of the property rises by a huge amount compared to what it was when you first started looking at property, there isn’t much of a move at all.
Some people don’t want to miss out
Of course, for many households, there will have been some FOMO going on. The fear of missing out is real for a lot of people, and seeing other people moving home might have convinced others that it was time for a change.
With so much focus on the stamp duty holiday, and the need for more space inside and outside of the home, and you had a situation where people were desperate to find a new home.
There is still a lot of activity in the housing market, as the tapering off period of the stamp duty holiday continues. This isn’t as relevant in and around Crowthorne as it is in other areas that are more affordable, but any movement in the market is likely to lead to other moves.
If you are looking to sell your home now or soon, we are on hand to assist you. We are pleased to say we have helped connect many vendors and buyers, and we know what buyers are looking for at this time. If you need any guidance in achieving success in the housing market as we move out of 2021 into 2022, we are the local agents you can rely on.
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
