Dartford Property Market improved by 44.9% over pre-pandemic levels
Has there ever been a better time for Dartford home sellers?
The Dartford property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping on to the Dartford property ladder with abandon.
Dartford house prices are anticipated to rise throughout 2021 after the stamp duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Dartford first-time buyers (and Dartford homeowners with minimal equity).
In addition, the continued low interest rates and the demand for larger homes because of lockdown means the Dartford property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Dartford estate agents making the biggest disparity between supply and demand for Dartford property for many years.
Fears of a cliff edge for the Dartford housing market at the end of March have dispersed, somewhat due to the stamp duty tax deadline extension, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021 meaning that today …
77% of Dartford properties on the market are Sold (STC)
Interesting, when utilising data from theadvisory.co.uk website, the Dartford average for the last five years has only been 53%, meaning there has been an uplift of 44.9% in the proportion of Dartford properties sold (stc) compared to that five-year average.
Yet what can’t be forgotten is that 9 out of 20 Dartford house sellers are also Dartford house buyers as well, so whilst they do indeed achieve a higher price for their Dartford property, they also have to pay more for the Dartford property they want to buy.
So, how much will Dartford house prices rise by?
Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale?
There are 30% fewer Dartford properties for sale
today compared to 4 years ago
Whilst February saw a lower-than-normal level of new properties coming on to the Dartford property market, the easing of lockdown road map and faster rollout of the vaccine is also persuading more Dartford homeowners (especially those older Dartford homeowners who have had their jabs) to start making the first steps towards moving home in 2021.
This will mean there will be more Dartford properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Dartford property prices in check.
These are interesting times for the Dartford property market. If you are a Dartford homeowner or landlord looking to buy or let your Dartford property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in this article mean to you.
And remember if you’re looking for a different kind of property experience,
More than just an estate agent…
I’m Gary Lintorn - Let Me Get You Moving...
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