If there was ever a time, you would like to have a crystal ball, it would be now.
There is no denying, these are not ordinary times. However, the housing market has remained impressively stable and buoyant since the second half of 2020, noting an increase in average selling price in December 2020 of £253,374 (up more than £14k on the previous year). The Halifax report an overall house price rise of 6% in 2020 and Rightmove report month on month increases in visitor numbers.
The government is trying hard to stem the impact of the pandemic on the economy and the stamp duty holiday has played its part in helping to keep the market moving (rumours are rife that the stamp duty holiday may be extended which would be a welcome announcement for many of us). Low interest mortgage rates have also been welcomed. Most of us have not been able to go on holiday or spend money on eating out and even changing the car as our cars have not had the chance to move very far! Research shows that we may have saved money and even paid off debt along the way (totalling in the region of £4 billion nationwide).
There has been a noticeable trend in urban housing becoming less favourable, with countryside becoming a more popular choice. The one thing the pandemic has shown us is that with good broadband, you can work from anywhere. We have had to look at the way we live and work and where we want to live and work – what do we want from our home? We want outdoor areas and gardens in which to relax and enjoy, access to green spaces, and rooms where we can set up a study and work. It is expected that demand for larger homes will increase as people realise that they may be able to work from home going forward for some, or even all of the week.
Gone are the long commutes on packed trains or sitting in a rush hour queue. They are being replaced by a short walk to your home office, a garden outside and glorious countryside around and for which Cumbria and the Lake District is well renowned.
Genesis Homes build lovely homes in desirable locations. The Orchards at Burgh by Sands is nearly sold out and is perfectly situated to make the most of the beautiful Solway coast. Our newest development, Beckstones at Rheda boosts amazing views towards Blakeley Fell, Flat Fell and Dent. This development also has plenty of open space and a dedicated play area.
As with previous lockdowns, we’re dealing with a lot of enquiries. It is widely predicted that there will be another surge in the property market, following pent up demand, once lockdown 3 ends. This, coupled with the mass vaccination and hopefully a return to the ‘norm’, will see more people wanting to move house, and with the realisation that we can work from anywhere, the opportunity to own the homes of our dreams becomes a reality.