>

2021 has been turbulent in all sectors, small businesses have boomed and busted, online sales have gone through the roof, you can’t pass a street without seeing a delivery van these days- and the property sector has not been immune to this unpredictability.

Demand for homes this year is up 26% on last year, and a supply of new homes is down -2% this year to date. This higher demand and lower supply has inevitably led to rising house prices, and certain areas have risen more than others! Grianne Gilmore, head of research at Zoopla tells us that ‘prices are rising fastest in the most affordable markets as activity continues at elevated levels among first time buyers and movers looking for more space or a change of lifestyle.’

The past year has delivered some highs and lows – and property owners in this area are certainly reaping the rewards. In the last 12 months we have seen a 9.86% increase in property values in Royston with the average property price now at £447,000. Over the last 10 years July-December has been the best time to complete a property deal with October being the runaway leader with an average of 6 completions more than any other month.

Although, with the end seemingly in sight we are now seeing the market move into slightly more predictable waters, hopefully allowing easier navigation for all of those involved. June 30th signalled the end of the stamp duty holiday, although properties below £250,000 will still be exempt.

 With the stamp duty holiday coming to an end, and also the supply of new homes catching up with the demand du to a recovery in prices of building materials, we are sure to see a slight drop in house prices, meaning now may be a great time to think about getting your property onto the market!

By Sam Herbert

Sales & Lettings Negotiator

Abode Town & Country