South Ockendon and Aveley Property Market Improved by 62.3% Over Pre-pandemic Levels
“The South Ockendon & Aveley property market has improved by 62.3% over pre-pandemic levels, so we have to ask if there has there ever been a better time for South Ockendon & Aveley property owners?
The South Ockendon and Aveley property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the South Ockendon and Aveley property ladder with abandon.
South Ockendon and Aveley house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for South Ockendon and Aveley first-time buyers (and South Ockendon and Aveley homeowners with minimal equity).
In addition, the continued low interest rates and the demand for larger homes because of lockdown means the South Ockendon and Aveley property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with South Ockendon and Aveley estate agents, making the biggest disparity between supply and demand for South Ockendon and Aveley property for many years.
Fears of a cliff edge for the South Ockendon and Aveley housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021, meaning that today …
82% of South Ockendon and Aveley properties on the market are Sold (STC)
Interesting, when utilising data from theadvisory.co.uk website, the South Ockendon and Aveley average for the last five years has only been 51%, meaning there has been an uplift of 62.3% in the proportion of South Ockendon and Aveley properties sold (stc) compared to that five-year average.
Yet what can’t be forgotten is that 9 out of 20 South Ockendon and Aveley house sellers are also South Ockendon and Aveley house buyers as well, so whilst they do indeed achieve a higher price for their South Ockendon and Aveley property, they also have to pay more for the South Ockendon and Aveley property they want to buy.
So, how much will South Ockendon and Aveley house prices rise by?
Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?
There are 15% fewer South Ockendon and Aveley properties for sale today compared to 5 years ago
Whilst February saw a lower-than-normal level of new properties coming onto the South Ockendon and Aveley property market, the easing of lockdown roadmap and faster rollout of the vaccine is also persuading more South Ockendon and Aveley homeowners (especially those older homeowners who have had their jabs) to start making the first steps towards moving home in 2021.
This will mean there will be more South Ockendon and Aveley properties available for sale in the conventionally busier post-Easter market in the coming weeks and months which should cause more equilibrium and help keep South Ockendon and Aveley property prices in check.
These are interesting times for the South Ockendon and Aveley property market. If you are a South Ockendon and Aveley homeowner or landlord looking to buy or let your South Ockendon and Aveley property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in the article mean to you.
Kind regards
Paul Tobias-Gibbins