Comment: Housing transactions continued to soar in June

Nick Leeming, Chairman of Jackson-Stops, comments on the publication of the HMRC property transactions statistics, showing housing transactions continued to soar in June.

“Housing transactions continued to soar in June and are reported today as being the highest monthly total since the introduction of the dataset in 2005. This will come as no surprise to our branches who have been completely inundated with buyers searching for a new way of life post-pandemic, fuelled by an eagerness to beat the Government’s extended Stamp Duty deadline at the end of the month.

“We anticipate transactions dipping slightly over coming months from these record-breaking levels as the SDLT holiday tapers off, but overall we expect the market to remain highly active for the foreseeable future for several reasons. 

“While many have sought to take advantage of flexible working to make a move further out into the suburbs or the countryside, the work from home message has now been lifted. Buyers will now have to consider how to best split their time between the office and remote working and how their home can best facilitate this. 

“These complex and ongoing changes in lifestyle and working patterns will be a catalyst for demand for some time to come, especially in suburbs and countryside villages and towns within reasonable commuting distance of major business centres. Our analysis of house prices, growth, train reliability, speed of journey and train crowding revealed seaside towns on the Kent coast provide the best options for buyers considering these factors. Our data indicates Folkstone as the best overall commuter location, whereas Herne Bay and Sandwich rank first and second in terms of desirable towns which allow access to London within 90 minutes.

“Savvy buyers should consider their position now before demand surges in these sought-after areas, while vendors in these areas have a unique opportunity to achieve an excellent price and facilitate their next move.” 

Kindly shared by Jackson-Stops

Main photo courtesy of Pixabay