The housing market post the end of the stamp duty holiday

In the past year the housing market in England has been stimulated by stamp duty holiday which was introduced by the government to boost the market in the pandemic. Since June 2020, home buyers didn’t have to pay any stamp duty on the first £500,000 of their purchase price, which fueled the activity in the housing market.

George Sifonios, Managing Director at David Astburys Estate Agents in Crouch End said, “June was the most successful month for completions in David Astburys history. We experienced a 318% increase in banked business year on year in Q2 and 99% of properties sold in June achieved asking price or over. We ended the busiest month so far this year with 17 sales agreed, the team went on 39 property valuations, we were instructed on 33 properties, 38 happy buyers exchanged on properties in time to take advantage of the stamp duty holiday savings and 34 happy clients completed on their new homes.”

Yianni Aresti Lettings Director at David Astburys added, “It was also a record month for our Lettings division. We let two of the most sought-after houses in Crouch End, the team went on 843 viewings in June, we agreed 75 new lets, agreed 14 new managements and we secured 19 long term tenancies and were instructed on 34 new properties. We were also instructed on a new development called Bhail Mansions, which is on one of the most sought-after roads in Muswell Hill, Creighton Avenue. We are the exclusive agent for this development with 9 luxury two- and three-bedroom apartments to rent and are excited that we continue to extend our reach in N10 and beyond. This development is particularly special because it is in catchment of some of the best schools in Muswell Hill.”

The property market is likely to remain strong in the coming months as there is a demand from buyers who were able to increase their savings during COVID and very attractive mortgage rates. The demand for houses remains strong as people continue to look to upsize and buyers are still seeking garden flats and the extra space for a home office.

If you are considering buying, selling or renting a property, get in touch with the team at David Astburys Estate Agents, they can give you an honest and accurate market valuation. Call 020 3000 6787 or go to davidastburys.com.

 

Address: 15 Park Road, Crouch End, London N8 8TE
Email: [email protected]
Website: www.davidastburys.com
Tel: 020 3000 6787