It was recently reported in the FT Weekend that research by Zoopla  Research and HM Land Registry has demonstrated that house hunters are choosing properties in the suburbs over and above City living.  Lock down with the combination of home working and the Government’s furlough scheme has prompted people to evaluate what their home means to them and buyers are choosing green space rather than close proximity to their office.  Buyers of all ages are choosing suburban and coastal living, demand in London is reported to be down . The change in demand between February and June of this year in Southend on sea is reported to be up by 108%. The research reports stronger sales nationwide for June 2020 than in the same month in 2019.

We, at Hair and Son, have  experienced a stronger bounce than expected on return from lockdown. There is  good demand for properties in all price brackets which echoes the reports finding. It is not surprising that Southend on Sea, with its’ excellent rail links to London, coastal location and open spaces is reported to be the hotspot for the South East.

The recently introduced stamp duty holiday due to expire in March 2021 will help homebuyers, as well as buy to let investors also.  Prior to this recent initiative a buy to let investor would have paid £30,000 in stamp duty for a residential property costing £500,000, under the current temporary relief scheme their stamp duty would be reduced to £15,000.

For further information please contact your local office. We will be happy to answer any of your questions.