Property market foundations strengthened by Chancellor

Bowden-headquartered property developer Harvey Homes is beginning 2021 with a bang by bolstering its already strong team and launching a new-look website.

With 2020 being a difficult year for all of us, it was no wonder that we were all hoping for happier times in 2021. However, with Boris Johnson’s announcement on 4 th January of a new national lockdown, people’s hopes and dreams for the new year appeared to be dashed before it had really even begun. Thankfully, there is still a glimmer of hope for those people who were hoping that 2021 meant a new start and a new home. Mercifully, the exceptions to the ‘UK Coronavirus Ale rt Level 5’ rules, includes house moves and therefore house-hunters are free to go forth and seek out their new home. This means that the UK property market is still buoyant, with Estate and Letting agents and removal firms continuing to work. Property viewings are also still allowed, with guidance issued on the importance of following national guidance on moving home safely , which includes points on social distancing, sufficient air flow and face coverings. This is obviously great news for all of us who spent 2020 ‘trapped’ in our houses and envisaging bigger rooms, spacious gardens and considering the benefits of a home office for the first time. So, whether you’re looking to take the first step on the property ladder, upsize, downsize, buy another property or add to your portfolio, here are all the reasons why January 2021 is the perfect time to be thinking about making a move. 1. Make savings with the Stamp Duty holiday One of the main reasons why now is a great time to move, has to be the Stamp Duty Holiday that was announced by Chancellor Rishi Sunak in 2020 and is currently still in effect. In a nutshell, the ‘holiday’ has come to being because the government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. This will considerably reduce costs for homebuyers, and even people buying homes worth more than £500,000 will enjoy substantial financial benefits as more expensive properties will only be taxed on their value above that amount. For example, buyers purchasing a home from Harvey Homes would be able to save up to £15,000! Not a bad little saving at all! According to a survey of 2000 people by Skipton Building Society’s Group owned estate agency Connells, the stamp duty holiday has really opened up buyers’ options: It has ‘made it possible for 33 per cent to consider increasing the size of the property’ they are looking for. It also makes it ‘possible for 62 per cent of those who have considered moving to buy somewhere which needs a little money spending for renovations and decorating.’ ‘58 per cent of respondents like the idea that they could free up some cash to landscape or do up an outdoor space.’ Whatever it is that you would do with your stamp duty savings, be sure to start the house moving process soon, as all moves have to be completed by Wednesday, 31st March 2021. 2. Make the most of lots of options The period between Christmas and New Year is always a busy period, with Rightmove hits topping 150 million visitors at this time in 2019 . 2020 was no exception to this – maybe being cooped up for Christmas with family makes people dream of a new sanctuary! This means that there are many options for people to consider at the moment and now is the perfect time for you to be ahead of other house buyers, and the millions of other searchers out th ere who are looking for similar attributes that you are. 3. Don’t lose sight of your new goals With 2020 being an extremely turbulent year, it is no wonder that many of us set new goals for ourselves and started thinking about what was really important. This might be a move to the countryside, getting closer to some local amenities, a bigger garden or even a hankering for more spacious and flexible living areas. Whatever your new moving goal, don’t let it slip through your fingers. 2021 is the year for making a change and looking to the future, leaving the doom and gloom of the last 12 months behind us. 4. So much time and space With travel restrictions in full force, it is unlikely many of us are travelling far this year so instead of binging on another Netflix series, why not truly make the most of your time and invest it in the future of your home. Moving home can be one of the most time-consuming and stressful periods in someone’s life (when it’s not manged by Harvey Homes of course) so take advantage of all your fr  ee time this year and put it into something productive – a new home! Whether you have been thinking of a house move for a while, or are at the start of your journey, considering your options and securing happiness for your future is always a worthwhile pursuit. While current times certainly are strange times, there really has never been a better time to get moving!