The UK property market is set to experience its busiest year since 2007, just before the financial crisis hit. During the second half of the past year, people sought to buy properties in an effort to escape the densely populated city centres for fear of contracting the coronavirus. This same demand in home buying is expected to continue throughout the remaining months of 2021.
This year, the total value of homes to be sold across the country is targeted to amount to at least £461 billion, a 46% rise compared to the £316 billion recorded in 2020. In line with this, home sales are also forecast to jump by 45% compared to the past year. At least 1.52 million UK homes are expected to be sold throughout 2021.
The UK’s Estate Boom
The current health crisis has surely skyrocketed the demand for family houses, in particular, as residents look for spaces where they can continue to accomplish their pandemic operations like remote working and distance learning. Despite the continued vaccination rollout programme across the UK, these arrangements will most likely persist even after the pandemic has come to pass.
Potential buyers are still keen on buying properties due to various contributing factors like low mortgage rates. Among these, however, the extended stamp duty holiday proves to be the most notable. The deadline for this government scheme was originally set on 31 March, but it has since been drawn out until 30 September in England and Northern Ireland.
Nonetheless, this proves to be the proper time for property sellers to truly capitalize on the very active property market. Here are some tips they should consider in order to get the best prices for their properties.
Bare Properties
More than anything, sellers should definitely make any potential buyer see the house that’s up for sale as their next home. It’s extremely important for homebuyers to see how much love has been put into a particular property because that means that they will surely enjoy living within that space.
One way to achieve this is by making sure that the property looks presentable and well-maintained. This is especially vital when it comes time for a physical house viewing. Sellers should invest in hiring professional cleaners to make it all the more enticing for any potential buyer.
It’s essential for sellers to get rid of any unnecessary clutter within the property. This is also to allow a homebuyer to really view the spaces of the home as they are, enabling them to envision how certain areas could be used or transformed once they finally move in.
Through the Screen
In line with house viewings, property sellers should also take note of the current government restrictions and health protocols that are still in place within the context of the global pandemic. Virtual tours are among the best ways for sellers to easily market their properties while safeguarding the safety of buyers.
As much as possible, limit in-person viewings for buyers that are already keen on making an offer on the property. Additionally, virtual viewings also prove to be a more convenient avenue for potential home buyers to examine a home without having to worry about the pandemic-related risks.
When it does come time to conduct an in-person tour, sellers should always arrange a proper time that suits the buyer. Make sure to observe physical distancing and property sanitary practices throughout the entire process as well.
Pandemic-driven Appeal
Likewise, being able to accommodate the changing buyer preferences should also be considered by sellers. The global pandemic has massively reshaped how residents are interacting with their own homes in relation to their overall health.
Among the features that potential buyers are looking for in a property, wide and usable outdoor spaces top the list. Towards the latter end of the previous year, it was reported that approximately 30 percent of people were more likely to move into a home that had a proper garden or had access to a nearby park.
If a residential property has these features, sellers should make it a point to highlight them. Invest in gardening and landscaping services to ensure that these particular spaces stand out. It could also prove to be a sure-fire way of closing a sale.
The Right Professional
Finally, it’s crucial for sellers to find the appropriate estate agent that will help to sell the property being put up for sale. They should necessarily look into the most active estate agents around their locality. It’s important to note, however, that the expertise of these agents will vary on the property type. Some might be well-versed in selling flats, while others are more confident in marketing family homes. Choosing the right one will make all the difference.
The Key to Making a Sale
Ultimately, there’s no better time to sell a property given the current state of the UK’s property market. While it can be extremely competitive at times, taking the time to genuinely understand how to sell a home faster will prove to be valuable.
