22 April 2021  /  By Andrew Ellinas LL.B.

Strong buyer demand

A strong market despite Covid-19

After the volatility of 2020, less property came to the market at the start of 2021 as sellers waited to see how the pandemic developed before listing their properties.

Despite the lack of available stock, demand remained strong through the period with buyers keen secure any good properties that came onto the market.

After taking five months to recover from the first lockdown, conveyancing volumes surged to over 160% of the 2019 volumes in anticipation of the end of SDLT concessions at the end of March 2021. Conveyancing capacity continued to build through the first quarter in 2021.

The extension of the SDLT relief period will hopefully see the volume in the pipeline stabilise and the industry return to a steadier pattern.

With demand remaining strong, and with the SDLT relief being tapered after June, there is no doubt that 2021 will continue to be an interesting year with a few surprises still in store but with buyer demand remaining strong.

Data Source: Landmark Information Group, Property Trends Report.

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