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📣 CRAZYYY!! 700,000+ homes currently SOLD with an average of 4 MONTHS to complete 1 sale!! No wonder buyers aren't expecting to beat the Stamp Duty deadline 🙅‍♂

Only 29% of buyers expect to complete in time to make use of the Stamp Duty holiday 🌮... According to Rightmove đŸ“Š:

➡ There are 700,000+ homes marked Sold Subject to Contract and going through conveyancing right now 🏡
➡ This is the highest number in the last TEN YEARS! đŸ„‡
➡ And INCREDIBLY... 78% higher than two years ago! đŸ˜Č
➡ The pace of properties coming on and off the market is the quickest recorded 🏆
➡ The year started at 613,000 but market FRENZY has meant that sales are being agreed a lot faster than completions creating a huge LOG JAM 🛑
➡ The current average time from sale agreed to completion is 4 months! ⏳
➡ SDLT holiday tapers off 1st July and 1st October, if not met:

Just over 50% of buyers said they would go ahead as planned 🚩
25% would try to renegotiate with the seller đŸ€
13% said they would try to find a cheaper home 🏡
4% of buyers would abandon their plans completely ☠

🔍 MORE INFORMATION: SDLT made EASY (example and calculator here): https://lnkd.in/dUxRgVh â„č

🙋‍♀ Why is the market so busy right now? đŸ€”

✅ The easing of restrictions
✅ Extended Stamp Duty holiday (despite the log jam)
✅ Better mortgage availability for first-time buyers
✅ Race for space and relocation plans

💬 Our view:

"700,000 properties SSTC and on average it takes 4 months to complete 1 transaction?! 🛑

Our guess is that this log-jam is going to get BUSIER over the summer... ☀

So if you are in the process of Buying or Selling - it could be a long wait. There are PLENTY of ways to speed things up, for advice just get in touch" 👍

LEAD IMAGE 📾: Recently SOLD by Cavendish Residential in Nottingham | Great investment in NG1 | £125,000 Full details here: https://cavendishproperty.co.uk/sales/property/210/weekday-cross 

đŸ€·‍♀ đ—›đ—Œđ˜„ đ—șđ˜‚đ—°đ—” đ˜„đ—Œđ˜‚đ—čđ—± 𝗼 𝗯𝘂𝘆đ—Č𝗿 đ—œđ—źđ˜† đ—łđ—Œđ—ż đ˜†đ—Œđ˜‚đ—ż đ—”đ—Œđ˜‚đ˜€đ—Č đ—¶đ—» đ˜đ—Œđ—±đ—źđ˜†'𝘀 đ—ș𝗼𝗿𝗾đ—Č𝘁❓

Get in touch with our EXPERT TEAM and we'll let you know đŸŠč‍â™€ïžđŸŠž‍♀

☎📧🗹

#cavendishexperts #sdltholiday #sdltcalculator #propertynews #estateagents #houseexpert #housingmarket2021 Rishi Sunak Timothy Bannister Cavendish Residential is a property company and award winning Estate and Lettings Agency in Nottingham. https://cavendishproperty.co.uk/sales/properties https://cavendishproperty.co.uk/rent/properties  

Posted 09 June 2021
by Ali Baylav Managing Director Cavendish Residential

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