NOVA NEWS EDITORIAL 07 JULY 2021
The lack of supply of property coming on the market continues to be an issue with those looking to buy their dream home. April 2021 saw a reduction in housing stock of 20% compared to that available 12 months previously. In particular the market is seeing a significant lack of 3 and 4 bedroom homes. Zoopla reported house prices going up by 5% per annum in the April, nationally, compared to the increase in the price of flats of 2%. The lack of supply is continuing to drive prices upwards but the trend of price increase is slowing. This may be because those seeking to beat the Stamp duty holiday for the higher priced houses will not now meet that deadline.
Prospective sellers and buyers may well be taking a breather from selling and searching as travel restrictions are eased. The emphasis may well now turn to getting away with the family as holiday destinations are opening up for business. At last the sun is shining and hopefully it will be a good sign for the UK holiday centres to have a successful year.
With the easing in work relating to property marketing I have had an increase in Land Registry and boundary work. It is amazing how much exercise you get wandering around a cropped field with a tape measure and banging marker pegs in the ground. Recent jobs have taken me to Kingswinford, Shrewsbury and Bridgnorth together with numerous local destinations and fortunately I have managed to pick my days and avoid the deluges of rain.
Let us hope that we have a good stretch of warm sunny weather so that we are able to enjoy our outside space and that ultimately we can return to a reasonable level of normality in a safe manner.
I hope you all enjoy the summer ahead.