News — Page 9 of 17

At Open Property Group we like to take an objective look at the influences impacting the property market and over the last 8 months there has been no bigger stimulus than the stamp duty holiday.

Here at Open Property Group, we like to ensure we keep up to date on all the issues and challenges that have an impact the UK housing sector.

It is early January and that means, that if you want to sell your existing property and buy another one to benefit from the stamp duty holiday for homes up to £500K, you have less than 90 days to do so.

Recent research on fall through rates – occurrences of buyers pulling out of a purchase, leaving behind them broken chains and stressed sellers – has shown a frankly worrying increase.

At Open Property Group we like to make sure we keep our finger on the pulse of what’s happening in the property market, and to say that pulse has been racing lately is an understatement! We all know and appreciate the problems the economy is currently facing. Never in our lifetime has the economy been in such a delicate position with the Government borrowing enormous sums of money to balance the books.

Recently we saw the introduction of the stamp duty holiday helping feed the huge surge in house buying, and now the Government have followed that up with an announcement to help first time buyers. At OPG we have been looking at what that could mean for home buyers.

Why the apparent mismatch and what does that mean if you are wanting to move home?

The Chancellor has given property buyers a wonderful window of opportunity in the shape of a stamp duty holiday but the deal is only for a limited time. Those buying and selling in tandem should act now to stop this money-saving opportunity slipping away.

The impact of Covid19 on the economy and every facet of our lives cannot be under-estimated. Major industries have been decimated, businesses have failed, and the whole world has adjusted to the new situation.

There are numerous methods used when valuing a rented property. Here are some of the determining factors.