We know the stamp duty holiday is encouraging people to enter the housing market. Buyers have the chance to save up to £15,000 on stamp duty fees, and you cannot blame people for taking this opportunity.
With the stamp duty saving threshold set at £500,000; there are many buyers across London taking advantage of the full saving. However, in Belsize Park, where prices are higher, the benefit of the stamp duty saving isn’t as blatant.
While this is slightly disappointing, the statistics indicate there is activity in the market, and homes are move quickly.
Houses are in demand
The study by Rightmove indicates houses which have a price of at least £1m are selling 18 days faster than they were selling in 2019. These properties are also selling at a faster pace than they have managed since 2014.
This is positive news for homeowners whose value is more than a million, and they are looking to sell their home soon.
Rightmove states; “Properties in Belsize Park had an overall average price of £1,191,233 over the last year. The majority of sales in Belsize Park during the last year were flats, selling for an average price of £957,750. Terraced properties sold for an average of £2,082,722, with semi-detached properties fetching £3,515,000. Overall, sold prices in Belsize Park over the last year were 6% up on the previous year and 3% down on the 2017 peak of £1,232,989.”
We are pleased to say we have assisted many homeowners in Belsize Park to connect with likely buyers, and sell their home. If you are looking to sell your house, get in touch, and we will be more than happy to arrange a property valuation for you.
We can help you connect with likely buyers
We believe a property valuation is the ideal starting point for selling your home. A realistic valuation allows you to enter the market with confidence, and it allows you to develop plans for your next move. If you are looking to capitalise on the stamp duty holiday, contact us as soon as you can.
Paul Oberschneider, chief executive at Hilltop Credit Partners, said: “A common conception is that houses in the £1m+ market take longer to find buyers than the overall market because of their higher price points. But the latest data from Rightmove shows that UK’s million-pound homes are actually outperforming the rest of the property market in terms of the number of sales being agreed.”
There are some expensive areas of London in great demand
Paul continued, by saying; “The hottest millionaire markets right now are Norfolk, Wiltshire, Cornwall, Henley, Hackney, Tooting, Stoke Newington, Balham with affluent buyers willing to part with huge sums of money to buy larger homes. A big reason for this market sentiment is the ongoing pandemic which is pushing many potential buyers to swap city apartments for bigger homes with more living spaces and gardens.”
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
