PROPERTY LOWDOWN

WHAT’S THE LATEST IN SUCH A VIBRANT MARKET?

homes and high demand from buyers was leading to higher house prices across the UK, however, it was too early to determine whether these trends would continue long-term.

IS YOUR HOME PARTY READY?

Dinner dates and garden parties are back on the menu, as May 17 sees the latest relaxation of lockdown restrictions in England. In the latest stage of the government’s roadmap out of lockdown, up to six people and two households may meet indoors, and overnight stays are allowed too.

And if you have an overdue celebration of a landmark birthday, anniversary or life event, up to 30 people can meet outdoors, so garden parties can be a summer highlight once again. Many people will also use these changes as an opportunity to meet up with friends and family for the first time in months.

It looks set to be a summer of celebrations at home, with many people keen to show off new homes or home improvements that have taken place during lockdown. Now’s the time to make sure you get your garden and entertaining spaces looking at their best for the influx of visitors, and there’s still the chance to add some finishing touches if needed.

Or, if it’s time to move rather than improve, why not take a look at some of the fabulous homes Beresfords is currently marketing that will offer a great backdrop for your big party?

WHAT’S THE FUTURE FOR URBAN FLIGHT?

Homeowners moving out of cities and towns, and heading to more rural villages, has been identified as one of the key reasons for house price rises in rural areas.

National think tank, Resolution Foundation, has shown how prices have gone up by more than 10% in the least densely populated 10th of local authorities in the UK. Lockdown has led many people to re-evaluate the needs and requirements of their living space, prompting many to search for more space, both inside and outside of their homes.

The think tank’s research showed that there were many people still living in overcrowded

SPRING 2021 SEES PROPERTY SALES SURGE

Spring 2021 has seen a significant surge in the volume of house sales and a rise in property prices. UK property transactions in March hit the highest monthly level since modern records began in 2005, according to data from HM Revenue and Customs (HMRC), and the same data showed that average UK house prices had risen by 8.6% in a year. 180,690 property sales were completed in the UK during March, a figure which is double the number of sales in March last year and 50% higher than February. The surge has been put down to a number of factors including the migration from urban areas into more rural settings, the extension of the Stamp Duty holiday until 30 June and a new guarantee scheme for low-deposit mortgages in the UK announced by the government in the latest Budget.