It looks like Britain’s movers aren’t about to let Brexit uncertainty and potential interest rate hikes scupper their plans. Recent research from moving website reallymoving.com showed that its unique visitor numbers for this January were up 15% from last January.
First-timers were out in droves, too, with more than half of the portal’s January conveyancing registrations coming from buyers taking their first step on the ladder. This uptick is possibly related to the scrapping of Stamp Duty for homes selling for under £300,000; this move saves first-timers around £1,600 on average.
Reallymoving.com isn’t a property portal, it’s for people further along the funnel, providing quotes for conveyancing, surveys and removal services. The fact that people are registering there shows they’re serious about their purchase and are some way along the process already, not just browsing their dream gaffs.
This is all encouraging, as the UK’s property market isn’t being dampened by political upheaval and uncertainty – buyers and sellers are still out there, buying and selling. People are being realistic; they still need homes for their new or expanding families, or they still need to downsize after retirement, keeping the market humming along nicely.
Racing against Brexit?
There’s been no great changes to house prices since the Referendum; people still need to move no matter what and many may be deciding to do it sooner rather than later.
It also looks as if Brexit won’t make the March 2019 deadline, so waiting and seeing isn’t an option, especially for first-time buyers who are keen to make the most of the Stamp Duty amnesty and the still-low interest rates.
Ongoing confidence and movement
One thing that’s always resisted uncertainty is the housing market and despite our economic and political landscape looking more unsettled than it has in decades, it seems we can still rely on it to stay buoyant. If you’re thinking of putting your property on the market, then don’t let the news stop you!