Anthony Martin Estate Agents said a property boom in housing sales has significantly made an impact after a tax cut by Chancellor of the Exchequer, Rishi Sunak Kent & London Property prices are reaching all-time highs, and rentals are also seeking growth.
Across the country, the number of sales has increased by an annual 35% in the five days after Sunak’s announcement on July 8th.
Anthony Martin Estate Agents, Cherry Orchard, Ebbsfleet Valley, Swanscombe
A recovery had already been underway with agreed sales in England up by 15% in June, it said on Monday.
Hoping to give a boost to the economy, Sunak raised the threshold for paying tax on property purchases to £500,000, four times its previous level, with immediate effect until March 31.
Anthony Martin Estate Agents have continued to see a substantial number of enquiries for both sales and lettings across Kent and London. Significantly, there has been a property boom in Dartford, Swanscombe, Barnehurst, Bexley, Bexleyheath.
Alongside a user-friendly, completely bespoke website, Anthony Martin Estate Agents use property search portals such as Right Move, who have said prices sought by home sellers between June 7 and July 11 rose by an annual 3.7% to hit a record high average of 312,625 pounds. Prices were 2.4% higher than before the coronavirus lockdown began in March.
“These figures are the earliest indicator of house price trends,” Rightmove Director Miles Shipside said. “They show on average prices gently rising not falling, and this will be reflected in the coming months in other house price reports.”
Anthony Martin, CEO of Anthony Martin Estate Agents comments: “Nevertheless, our teams have been working extremely hard in these unprecedented times, to continue keeping you moving. We are fortunate to be in the position of housing families and first-time buyers without the constraint of stamp duty!
First-time buyers and many families are tremendously happy to move into their new homes stamp duty free, up to £500,000. This surge in the property market is not only beneficial for Estate Agents across the country but for many of those who have been waiting on buying a home for some time.”
According to Bank of England data, Mortgage lenders Nationwide and Halifax have reported falls in house prices and mortgage approvals decreased to the lowest on record in May.
Rightmove said buyer enquiries across Britain as a whole since the start of July jumped by an annual 75%. Anthony Martin Estate Agents can confirm this with up to 500 viewings a month. Their new and bespoke website has provided great assistance for the increase in viewings across all branches. Those interested in purchasing or renting a property are able to view all available properties in London and Kent with the ease of the Anthony Martin Estate Agents’ stamp duty calculator.