2021 UK trends in buying and selling property
As a UK commercial property buyer, we’re clued into market changes and shifts. In the first part of 2021, demand was fairly stale as restrictions disrupted the movement of property purchases. But now, as restrictions ease, what can we expect for the rest of 2021? We’ve looked to reputable sources and our own experience to provide flavour to our Q3/Q4 2021 property market predictions.
Bumper year for house sales
Zoopla reports “around 1.52 million UK house sales are expected across 2021, up by 45 per cent compared with last year” according to the Daily Record. And that is despite homes costing more and those valuations pushing them into higher tax bands. According to Zoopla, “An estimated 940,000 properties have moved into the 5% stamp duty band, while 130,000 have moved into the 10% one.” We suspect that many people who held off on selling during the early part of the pandemic will rush to do so now before the stamp duty relief ends in September.
Commercial investment soars
According to Savills, “£10.5 billion was invested into UK commercial property in January, February and March which although was a 36% decrease on the preceding three-month period, it was 112% and 14% above the total turnover recorded in Q2 2020 and Q3 2020, respectively.” So, considering the year or year growth, we would assume that trend will continue in the remaining months of the year. We don’t plan on slowing down either. So, if you’re looking for a commercial property buyer in the UK, let’s talk.
The market recovery
According to CBRE, “The main risk for UK property markets in 2021 relates to slower international growth acting as a drag on [the UK]; and concern about a vaccine-resistant virus variant which prompts winter 2021 constraints on economic activity. All UK real estate investment will recover to around £53bn by [the end of 2021] (2020: £42bn), matching the level achieved in 2019, though still some way off the record UK high achieved in 2015 (£70bn). So, while the outlook is good year on year for the property market as a whole, we’re going to fall short of our post-recession recovery in 2015.
We’re doing our part to help the recovery. We buy houses, we buy land and we buy businesses all across the UK. If you’re thinking of selling your property, take a look at our approach.
