We recently read a story in the excellent Yorkshire Post which had the headline that applications for mortgages are at a 12-year high.
According to the article, Halifax bank had received more mortgage applications in the last three months than at any time since 2008. As another sign that the market is thriving, the ‘average’ house price has also now topped £250,000 for the first time. It’s thought the ‘mini-boom’, as it’s being dubbed, is not only down to the Chancellor’s stamp duty holiday, but also the demand for larger and more rural properties as we all get used to spending more time closer to home.
It’s no surprise that the demand for home offices is up, as well as more living space to enable us all to be able to spread out a little bit more. Detached houses are also apparently in demand (perhaps being at home more has made us realise our neighbours love a bit of daytime heavy metal music which is interrupting our endless Zoom meetings). Since Covid first hit in the Spring, the Halifax says the cost of a typical detached home has increased 6%, or £27,371 on average. In contrast, the average price of a flat has increased by only 2%, or £2,833.
Whatever the reasons behind it, it’s clear to see things in the property market are currently very busy. Of course, all those people who were unable to move in the Spring, but had plans in place, are now ready to move home. Those who were prompted by the lockdown to look for a new property are now also in the system, meaning there has been reported delays in searches and mortgage agreements.
The advice is clear – if you’re thinking of moving, plan ahead. And the same is true for removals. We’re very busy at the moment, but of course we’ll always try and help you if we can. Getting in touch early and getting the wheels in motion is really helpful. We can provide you with a quote following a video call with yourself – you can show us round your home and ask any questions about moving you may have. If a video call isn’t possible we can find a way to get you the help you need.
It’s worth choosing your removals company and taking those first steps well ahead of a completion day being set, or you’re unlikely to be able to find a reputable firm with availability. Just keep us updated on your move and dates as they’re formalised and we’ll work together to make it happen. As a tip – Fridays tend to be the busiest day as the ‘traditional’ move day – but actually there’s no reason a move can’t take place midweek if everyone is happy with that!
For more information about our Yorkshire-based removals service click here.