2021 End of Year Market Update

If you thought 2020 was a strange year then 2021 has definitely given it a run for its money! Many of us expected things to look a lot different but yet we still seem to be held within the ongoing grasp of Covid and the misery it brings so many.

The local property market this year has seen prices for sales and in particular lettings rise. The summer months were especially busy, but as we have headed toward the more traditional quiet times of the winter months it still seems that demand is incredibly high.

The lettings market has proved yet again to be resilient throughout, and while some landlords may have moved on and sold, for others they have seen their returns increase as the prices have risen. Stock remains an issue, and while their remains a shortage these increases will likely continue to rise.

As usual there has been lots of legislation, EICR regulations came in for all properties on 1st April, and the focus now will shift towards improving energy efficiency as part of the government plans to get to net zero for carbon emissions. Landlords would be well placed to look at their EPC's and see what works can be done to make improvements as from 2025 properties under a C band will no longer be able to be let. It is also worth bearing this in mind for any potential new purchases.

We will see what new year brings especially if there is to be any further Covid-related restrictions but we keep doing our best to keep landlords informed and provide you with up-to-date news, and insight into the local market. Below Matt and James round up the year in their end of year review......thank you for watching!