How the housing market could look in 2021

Despite the uncertainty of 2020, the housing market has enjoyed steady growth. House prices have been rising across the UK, so what will next year bring?

Changing priorities

While there is still a lot of uncertainty ahead in 2021, it’s predicted that the UK property market will stay strong. The COVID-19 crisis has seen a vast percentage of the UK spending the majority of their time at home. Our lifestyles have changed drastically, and many of us are now faced with the possibility of working from home long term.  This has created a shift in priorities for many homeowners, who may now be looking for larger properties with access to outdoor space.

There could well be a surge in demand for homes that better suit our new way of life – whether that’s properties with a dedicated home office space, more space for children to play, or a garden to help break up long periods of being indoors.

New year, new home

The start of 2021 is likely to be a busy time for the property market, as buyers look to take advantage of the stamp duty holiday before it ends on 31st March. The stamp duty holiday began on 8th July 2020, as a way to give the housing market a boost in light of the coronavirus pandemic.

Under the temporary rules, anyone buying a home under £500,000 is exempt from paying stamp duty. As this offers buyers a significant saving, it could be one of the driving forces behind continued property market growth in early 2021.

Many will also hope to draw a line under 2020 and make a fresh start of things in 2021. This may well include a significant change, such as a new job or home.  

If you’re looking to sell your home or are searching for your dream property, get in touch with the expert estate agents at Chimneypots today on 01489 584298. Our friendly team of estate agents has years of experience successfully selling properties across Hampshire and Dorset, as well as helping people find their perfect home.

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