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A significant number of transactions are still being progressed in 2020in the hope of completing before the Stamp Duty holiday deadline. 129,400 homes changed hands in December, a monthly increase of 13%, and 32% higher than a year ago.
According to Zoopla, there were 9% more sales agreed in 2020 than in 2019.
Despite the further national lockdowns, purchaser demand remains strong.
Ironically, the longer people are spending in their current homes the more reflection, dialogue and planning is seemingly taking place to explore moving to a new home.
Rightmove has just reported its busiest ever January for website visitors.
Zoopla has seen a 13% increase in buyers registering with estate agents year-on-year.
In stark contrast, new property being listed for sale is at chronically low levels.
This is partially explained by the current restrictions, and loss of appetite amongst some sellers to have potential buyers coming into their homes.
Equally, there appears to be a pause for thought amongst some would-be sellers.
Nationally, new listings were down 21% in January compared with last year.
In the more discretionary led prime market, this trend is exacerbated further.
In addition, it has been reported that 28% of households have saved more during the pandemic, particularly in mid to high income family groups, which are also the most active in the property market.
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