downsmail.co.uk


‘Market is strong and demand is out there’


PROPERTY expert Clive Emson believes the housing market will “only get stronger” coming out of lockdown. He believes demand for prop-


erty will grow, with more cohabit- ing couples separating and the stamp duty holiday making prop- erty more affordable. The businessman says there is


“no indication” to suggest house prices will fall, as long as the ap- petite for property remains robust. Mr Emson claims the market will


hot up again in the next few months. He said: “The market is quite strong, the demand for property is definitely out there and I can’t see any reason for it to change at the moment. “I see so many reports that sug-


gest house prices will be going down, but how will that work? I do not see how house prices will go down when there are more peo- ple than ever looking to buy? It just does not work like that. “People have been cooped up for months and just want to get things done.


Stamp duty, a tax paid by home-


buyers, has been temporarily re- moved on properties up to £500,000 in England and Northern Ireland by the chancellor Rishi


Sunak as the focus of his summer economic statement. The official announcement on


stamp duty also created a large jump in people visiting property websites. Mr Emson added: “Now that the


stamp duty fee has been waived and there is no longer a penalty to buy a second house, the only prob- lem we face is whether people have the money. “We usually see a surge in de-


mand in January anyway, due to people being at home over Christ- mas. That was only for a period of three days, now we are looking at over three months. “I think there will be more and


more homes going on the market as there is such an appetite for property at the moment. Every- thing is getting geared up to go again, not just in the property in- dustry but in most other busi- nesses too.”


Bearsted Harrietsham


How much does property in your area cost? 1-bed flat 2-bed house 3-bed house 4-bed house £190,750 £162,500


Maidstone £148,379 £258,595 £454,286 Snodland Larkfield Coxheath Kings Hill Headcorn Ditton


£163,000 £255,667 £284,077 £235,888 £305,353


Barming Lenham Allington


£257,500 £258,333 £337,840 £385,000


£297,136 £572,692 £628,454 £287,488 £338,599 £547,725 £633,693 £408,891


£163,750 £288,707 £335,200 £463,500 £205,000


£552,187


£210,000 £306,643 £416,417 £631,810 £176,250


£286,081 £321, 851 £548,671


£190,000 £275,000 £331,000 £526,875 £165,000


£512,216


£120,000 £270,000 £486,999 £632,000 £200,500


£510,553 Prices are averages in sample areas calculated from those obtained from local estate agents. Research: Jade Schopman


Plenty of choice for buyers


ESTATE agent Brian Pitzey be- lieves buyers were “chomping at the bit” whilst in lockdown. The Maidstone Homes repre-


sentative says there have been mixed messages on the current state of the housing market, but staff have “exceeded their tar- gets and produced lots of sales”. He said: “The new home sector


has remained positive, thanks to the help to buy scheme. This makes it easier for people to buy with a lower deposit. “We have heard that some sur-


veyors are questioning the value of ‘incentives’ buyers may have been offered to secure a sale. “It is a good time to buy as


money is cheap to borrow, if you have the required deposit, and there could be an additional cost saving with no or lower stamp duty taxation. “We are awash with property


available in Maidstone, Malling, and surrounding villages, plus we have new homes being con- structed and many more planned. This means buyers have a lot of homes to consider. Mr Pitzey said it is also a good time to sell. He added: “We could be experi-


encing a small spike. The mort- gage lenders are tightening up and their reluctance to offer the higher loan-to-value products could be seen as their concerns about the short-term movement of house prices. Plus, there are millions of people artificially em- ployed thanks to the support of the furlough scheme. What hap- pens once furlough finishes is the big question for lots of industries.”


15


Housing market | News


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48