The Canterbury 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 Canterbury property ladder with abandon.

 

Canterbury 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 Canterbury first-time buyers (and Canterbury homeowners with minimal equity).

 

In addition, the continued low interest rates and the demand for larger homes because of lockdown means the Canterbury property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Canterbury estate agents making the biggest disparity between supply and demand for Canterbury property for many years.

 

Fears of a cliff edge for the Canterbury 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 …

 

 

Interesting, when utilising data from theadvisory.co.uk website, the Canterbury average for the last five years has only been 36%, meaning there has been an uplift of 13.7% in the proportion of Canterbury properties sold (stc) compared to that five-year average.

 

 

Yet what can not be forgotten is that 9 out of 20 Canterbury house sellers are also Canterbury house buyers as well, so whilst they do indeed achieve a higher price for their Canterbury property, they also have to pay more for the Canterbury property they want to buy.

 

So, how much will Canterbury 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?

 

 

Nationally, in most UK towns and cities, the number of properties that are for sale today compared to the same pre-Easter property markets of 2015 to 2019 are lower by around 10% to 20%, yet in Canterbury the opposite is true. With the easing of lockdown roadmap and faster rollout of the vaccine, this is persuading more Canterbury homeowners (especially those older Canterbury homeowners who have had their jabs) to start to make the first steps towards moving home in 2021 and placing their property on the market for sale.

This will mean there will be more Canterbury 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 Canterbury property prices in check.

 

These are interesting times for the Canterbury property market. If you are a Canterbury homeowner or landlord looking to buy or let your Canterbury property in the coming weeks or months, don not hesitate to contact us to discuss what all the points raised in this article mean to you.