St Albans market staying strong through second lockdown

Business has continued to boom in the housing market across Herts, despite the second lockdown. Picture: Getty...

Business has continued to boom in the housing market across Herts, despite the second lockdown. Picture: Getty Images/iStockphoto - Credit: Getty Images/iStockphoto

Fears that the second lockdown would bring Hertfordshire’s property boom to an abrupt end have been unfounded, according to one local estate agent.

Putterills’ director Mark Shearing said: “Whilst we all know that these conditions can’t last forever, the early signs are that this second wave will only act to fan the flames of the current market.”

The Herts housing market bounced back quickly following the first lockdown, and news that viewings would be able to continue as normal this time around – subject to now well-established social distancing measures – has been music to agents’ ears.

Mark said: “During the first lockdown would-be buyers weren’t idle. Far from it; they were actively watchful with increasing visits to the property portals such as Rightmove and On The Market. Once lockdown ended these buyers broke out. The market became a feeding frenzy.

“Now, just as the initial national lockdown acted as an incubation period, the latest round of measures may well do so again, causing another bout of activity, but with all the social distancing measures adhered to of course.”

But while completion by Christmas is the goal for most movers at this time of year, it’s the end of the stamp duty holiday on March 31 2021 that’s now the cut-off for many.

Mark said: “Buyers will be racing to complete purchases by then to avoid extra expense, up to £15,000, money they could well use for a deposit or for improvements to their new home.

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“Of course, the chancellor may postpone the cut-off date, or best of all discontinue the unpopular windfall tax altogether. But if he does neither, we believe it’s going to be a hectic five months.”

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