A big increase in house-hunters determined to move in 2021 has sparked a surge in demand for properties in Plymouth.
Estate agents in Plymouth are seeing a large rise in buyer demand across the city and beyond.
In the first week of February, visits to property websites such as Rightmove or Zoopla were up 45% on 2020.
Enquiries from house-hunters increased by 18%, while the number of purchases agreed rose by 7%.
New data also shows the average price of properties coming to market in the UK rose by 0.5% (+£1,522).
Are you thinking about selling your home in Plymouth? The demand in Plymouth suggests this is an ideal time to be putting your property on the market.
The property market in Plymouth
In the last three months alone, more than £234m worth of homes have been sold in Plymouth and the surrounding areas*.
The average price of a property in the South West is now £318,449**. That is an annual increase of 3.4% on the same month last year.
Meanwhile, the average sale price of a property in Plymouth during the last 12 months is £204,508 – 4.9% higher than the previous 12-month period*.
How is the stamp duty holiday affecting demand?
The ONS, Halifax and Nationwide have all reported a sharp increase in annual house price growth since the stamp duty holiday announcement in July 2020.
Since the New Year, Lang Town & Country has seen buyer demand continue to grow in Plymouth.
It is now too late to realistically complete a new purchase before the stamp duty holiday is due to end on March 31st.
With this dramatic surge continuing to build momentum, it would appear many buyers’ desires to move are not dependent on the potential saving.
This is a hugely positive sign for the local property market.
How will the stamp duty holiday being extended affect buyers and sellers?
The Chancellor announced in his Spring Budget on March 3 that the £500,000 nil rate band will now end on June 30th, rather than the original March 31st date.
After that, the nil rate band will then be £250,000 (double its standard level) until the end of September, before we return to the usual level of £125,000 from October 1st.
James Clarke, our Land & New Homes Director, says: “We watched the Chancellor’s budget with interest. We have seen across the country transaction times for conveyancing increasing through no fault of buyers and sellers, so this stamp duty extension is most welcome.
“The market has started positively this year, with demand at high levels. We are also expecting a surge of new properties to the market once the children are able to return to schools.
“Interest has already been high, with property portals seeing record numbers of visits, and we are seeing this particularly with our YouTube channel.
“Spring is always a key time of the year for the property industry on the back of extension, so we are in for a busy summer for house movers.”
How do I sell my home in Plymouth?
Lang Town & Country is proud to be the No.1 selling agent in Plymouth.
Our offices remain closed to the general public but you can still visit us by a pre-arranged appointment. We can conduct viewings and appointments, but our dedicated team is on hand to answer any questions you may have regarding sales, lettings or new homes, or any other enquiries.
We are headed up by a team of Directors who specialise in their own chosen fields and will guide you through the process of selling your home from start to finish.
Obviously, our aim will always be to ensure the safety of you, our clients, staff and the wider community.
Using guidance from the Government and industry professionals, we have put a number of measures in place during lockdown – including virtual viewings and video valuations.
We carry these out in a number of different ways including WhatsApp, Facebook Messenger, Zoom or Skype – whichever you’d prefer. Find out more here.
We also use our social media channels to market your home, and we have a dedicated YouTube channel which offers potential buyers a sneak peek inside our newest properties.
Find out why we think our virtual tours represent the future of property marketing here.
How long will it take to sell my home in Plymouth?
Lang Town & Country has a number of eager potential buyers waiting for quality homes to become available.
More often than not our properties are achieving full asking price, and the time homes are on the market is decreasing daily.
Paul Preen, Managing Director, says: “This increase in buyer demand is in part being fuelled by a shortage of supply, with fewer new sellers coming to market.
“Last year, we saw the housing market unexpectedly buoyed by buyers; determination to move and satisfy their new lockdown-induced housing needs.
“This surge in demand suggests that we may well be seeing a continuation of that this year.”
Why should I choose Lang Town & Country?
Established as one of the longest-standing firms of independent estate agents in the city of Plymouth, Lang Town & Country has for more than 20 years successfully guided clients through the house buying and selling process time and time again.
The company is owned and run on a day-to-day basis by its Directors, who themselves have unrivalled knowledge in their local markets.
We take pride in the straight-talking advice we give. We offer professional advice for the benefit of our client and not-for-profit margins, or targets closely associated with the estate agency industry.
We also offer:
• Bespoke marketing packages
• Competitive fee structure
• Zero-week contract
• Specialist sales progression department
• All viewings accompanied
• High-quality brochures with photography and floor plans
• No sale – No fee and no upfront costs
• Regular constructive feedback
• Licensed and qualified estate agents
• High-profile advertising on all major property websites
• Exclusive national marketing networks
• Friendly, honest and experienced local staff
• Discreet market appraisals in unbranded vehicles
How do I get in touch with Lang Town & Country?
Please do contact us and we’ll be more than happy to offer advice and a free valuation of your home.
Plymouth Sales – 01752 256000 / Property@langtownandcountry.com
Plymstock Sales – 01752 456000 / Plymstockoffice@langtownandcountry.com
Waterside Office – 01752 200909 / Waterside@langtownandcountry.com
Lettings – 01752 201010 / enquiries@langtownandcountry.com
Land & New Homes – 01752 278499 / newhomes@langtownandcountry.com
You can also get in touch if you have concerns about your property move or want reassurance on how we can do this while keeping you, our staff and the NHS safe.
We’ve also put together a handy guide to moving during lockdown which should help answer any questions you may have.
Please note: Our offices are closed to the public while we work remotely.
*Dataloft Inform
**Rightmove House Price Index for February 2021
