If you stay in touch with what buyers look for in the housing market, you will know buyer demand has shifted this year. This shouldn’t be a surprise. 2020 has been a challenging year, and many people taken the time to re-evaluate what is important to them.
The stamp duty holiday has invigorated the housing market, but it is the lockdown period which led many people to consider what is vital for them. People want to live in homes with more space, and they want to access outdoor space.
Ideally this would be in the form of their garden, but failing that, a nearby park is crucial.
What is happening in the Stanmore property market?
As of the end of November 2020, Rightmove said this about the Stanmore property market; “Properties in Stanmore had an overall average price of £641,535 over the last year. The majority of sales in Stanmore during the last year were semi-detached properties, selling for an average price of £600,626. Flats sold for an average of £383,122, with detached properties fetching £1,178,032. Overall, sold prices in Stanmore over the last year were 6% up on the previous year and similar to the 2015 peak of £642,015.”
Property on offer in Stanmore
At the end of November 2020, Stanmore had a total of 269 property types listed for sale in Stanmore. 42 of these properties were classed as detached homes while 48 semi-detached homes were listed. 16 terraced properties were listed for sale in Stanmore, and 157 flats were on sale.
Of the total properties listed for sale in Stanmore, 167 results were returned when using the “Garden” filter.
The “Parking” filter returned a total of 239 results. 149 properties were listed as having a garden and parking facilities.
There was a total of 30 new homes listed for sale, and 8 retirement homes were included in the list.
With more than half of the properties listed for sale in Stanmore having parking and a garden, it is likely the most common demands for property will be met. As you will see from the findings below, space and functionality remain vital for property buyers.
Buyers’ top 10 most-searched terms
The top 10 most-searched for terms from buyers in 2020, according to Zoopla, is as follows:
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Garden
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Garage
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Parking
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Detached
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Rural
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Secluded
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Bungalow
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Balcony
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Annexe
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Freehold
The top 10 most-searched for terms from buyers in 2019, according to Zoopla, is as follows:
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Garage
-
Garden
-
Parking
-
Bungalow
-
Detached
-
Annexe
-
Freehold
-
Rural
-
Acre
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Seaview
Why has buyer demand changed in 2020?
Although it is fairly obvious as to why buyer activity and behaviour has changed in 2020, the key factors which have shaped the 2020 housing market are:
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COVID-19
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Lockdown
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Remote working
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Stamp duty holiday
Whatever your circumstances are, or what move you would like to make next; we are here for you. Stones Residential prides itself on offering the best standard of service to our clients, and we work hard to help you achieve your property goals. If you would like to arrange an appointment or get more details on how we can help you sell your property, contact us today online or by calling us on 020 8954 0045.
