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Property Sales Boom

Sell My House Quickly in Reading

Sell My House Quickly found another interesting article about properties in Reading. UK enjoys property sales boom amid Covid-19 pandemic. Britain’s real estate market defies predictions of a house price crash despite coronavirus crisis.

Property Sales BoomHard-to-sell homes are being snapped up by the hundred. As Britain’s booming property market maintains a year-long breakneck sales record.

In areas of high demand, even the most knocked-about and idiosyncratic houses are spending just days on the market. Once buyers, desperate to grab something, see that predictions of a house price crash are proving off the mark.

“Homes that look like the last turkey in the Christmas shop window are flying off the shelves at the moment.” said property agent Henry Pryor.

The property merry-go-round screeched to a temporary halt during the first lockdown early last year. So the pause did not last.

With sales barely slowing over the summer, the data is clear:

along with technology, real estate has emerged as one of the pandemic’s boom sectors.

Andrew Wishart, property economist at consultants Capital Economics, said. “With the amount of secondhand stock on the market currently extremely limited, house prices could continue to surprise on the upside.”

Prices were up 11% on a year ago, said Nationwide. And remain about 13% above pre-pandemic levels, according to official data.

Britain’s biggest homebuilder Barratt Developments reported a near doubling of profits over the last year to £812m on Thursday. And said viewing requests for new homes over the next six months were “strong”.

Wishart said the end of the furlough scheme on 30 September, which is expected to push unemployment higher, posed only a small risk to rising prices.

We found this article about UK enjoys property sales boom amid Covid-19 pandemic on The Guardian. Kindly click the link to read the full story.

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