See the full article written by Punchline here: https://www.punchline-gloucester.com/articles/aanews/house-buying-boom-sees-busiest-month-in-a-decade?fbclid=IwAR01O6p02qj6M-evVaDrArJ5Jih3SWMe00ewFC4-tp9Y2TnXUFTWu7C5cH0
Despite all the uncertainty of the Coronavirus pandemic, July saw a £37bn UK house-buying boom.
This was the busiest month of sales in a decade, according to property website Rightmove.
Record-breaking transactions coincided with the country going into recession and the suspension of stamp duty.
The spike followed a suspension of the housing market during the coronavirus lockdown, but also coincided with the UK plunging into a recession.
Chancellor Rishi Sunak also cut stamp duty in July, in an effort to encourage more people to get on the housing ladder.
Rightmove said the average asking price for a house in the UK in August stood at £319,497, down by around 0.2% from July's £320,265 - which was a record high.
Many parts of the country recorded new highs in August but London pulled the national asking price down, with average prices falling by around 2%.
House prices usually drop over the summer, with many people opting to travel on holiday, according to the website. In July 2019, £25bn worth of sales were made..
James Birt, managing director of Gloucestershire-based estate agents Naylor Powell, said: "We have seen a significant increase in activity and sales agreed across our four Gloucestershire offices.
"We are being invited to value almost a third more properties than we were this time last year. Sales being agreed for June and July is approximately 20% higher than the same period last year. "Clients are telling us that there are a number of factors making them look to move now. Firstly, by not going on holiday they have more time and enthusiasm to make a long term-investment.
"Secondly, the stamp duty holiday is making them bring forward plans which they may have had for next year. And thirdly, there is a significant demand for more space at home, whether that be more rooms or a larger garden.
"Spending so much more time at home has given clients time to assess what they want in their next home."
We are delighted to announce that our new sales and lettings branch is now open in Cam. Formerly occupied by The Post Office (which has relocated to 24-26 High...
It’s been widely reported that the housing market is extremely busy. The latest UK House Price Index from Zoopla found that there is no sign of a...
We're delighted to announce that we're opening a new branch in Cam! The branch will be led by Ruth Bartlett who has been a member of the NP team for a number of...