to sell your property is a big decision. As with any large decision we make in
life, we need to approach it with the facts. Here are three interesting facts
about the UK’s property market that you might want to know before selling your
1. £242,000 Is The Average UK House Price
According to a report released by the Office for National
April of this year, the average UK house price was £242,000, with that number
expected to continue to climb. The uptick comes after a period of economic
downturn during 2008 and 2009.
What this means for home sellers: An
uptick in prices means your property value has probably gone up as well. You
may very well stand to gain a higher profit on your home today than you could
have in the past.
2. First-Time UK Buyers May Not Have To Pay The Stamp Duty
In November 2017, the stamp duty on first-time
buyers was cut on properties up to £300,000. Announced by Chancellor Philip
Hammond, the move was expected to save 80% of first-time buyers nearly £5,000.
So far, nearly 70,000 first-time buyers have benefited, many paying no stamp
duty at all, a YourMoney.com report said.
What this means for home sellers: A
cut of the stamp duty has significant benefit to the home seller. Not only does
it mean that your property has the potential to now reach more interested
ladies and gents, it also means that those first-time buyers will be more
likely to buy your home for the savings they’ll incur.
3. Virginia Water Is The UK’s Highest Value Town
According to Zoopla, Virginia Water offers some
of the highest value on the property market in all of the UK. Other towns
getting ticks on the top five boxes: Cobham, Keston, Beaconsfield and Chalfont
What this means for home sellers: If
you live in one of these towns, you stand to gain the most pound for pound on
your property listing.
There’s a whole lot more to know about the UK
housing market. Fortunately, our team of dedicated agents are here to help. If
you’re interested in selling your home, get a free instant
evaluation or contact one of our
professional agents today.