Manns and Manns are pleased to confirm the housing market remains busy with numerous buyers eager to complete their purchases prior to the upcoming changes to Stamp Duty Land Tax changes on 1st April 2025. Homeowners’ appetite to sell remains strong and we continue to experience high volumes of enquiries for valuations.
Viewing and sales numbers have increased and there are more available homes locally than this time last year, which is great news for home movers.
Exciting news from Government, which will undoubtedly prove popular throughout the industry, is the announcement of plans to simplify the homebuying process through digitisation, improving data sharing between parties and placing less reliance on paper-based documentation.
Announcing the plans, Housing and Planning Minister Matthew Pennycook said, “We are streamlining the cumbersome homebuying process so that it is fit for the twenty-first century, helping homebuyers save money, gain time and reduce stress while also cutting the number of house sales that fall through.”
Here at Manns & Manns we recognise the increasing demand for online viewings from prospective buyers and are proud to offer bookable online viewings alongside our face-to-face appointments. You can browse the wonderful homes we have available here: Property Search
We are always keen to ensure our clients can take advantage of the very best available mortgage deals. We are therefore delighted to announce Stacey at Rockstone Mortgage & Financial Advice as our chosen broker. Please contact us to arrange your appointment here: Our Bursledon Office.
Self-introduction from Stacey:
“I am pleased to offer my Mortgage & Protection advice, whether you are a first-time buyer, home mover, buying a buy to let or looking for the best re-mortgage deal. I am here to offer great advice and the options available to you, I can even help with later life mortgages and equity release, plus and some might say most importantly protect you and the ones you love with Life cover, critical illness cover, Income protection or Family income benefit – I am here as your one stop shop and always happy to help with your mortgage & protection needs.”
In the £1m+ market, activity was less frenzied but still a healthy percentage higher than a year ago and we are starting to see this area of the market move forwards in a positive manner. The number of applicants searching for the £1m+ price range has increased by around 10% compared to last year.
The England-based rate in March remained at 4.5%, mainly due to the rise in inflation, which came as no surprise to many when inflation was reported to be at 3%.
Elsewhere, a significant development for landlords and renters continues to edge ever closer, as the Renters’ Rights Bill has now had its second reading in the House of Lords.
Demand for investment in commercial property has also increased, according to Rightmove’s Quarterly Commercial Insights Tracker. The continued recovery for the investment sector comes amid falling interest rates, which make opportunities more affordable.
Demand to lease office space is +11% higher than the same three-month period a year ago, as the UK workforce continues the recent trend of spending more time in the office.
Overall, we can see many returning to work in offices, enthusiasm towards building communities again and a healthy interest in buyers not only looking to downsize, but equally to upsize. A general feeling to move forwards. We are here to help you every step of the way, when home moving and look forward to hearing from you should you require assistance to buy or sell.