soaring property demand

Soaring local property demand explained

The post lockdown property market has been exceptionally busy and we have experienced five months of activity in only two months of business. With the market being closed, this has created soaring property demand as soon as we were allowed to carry viewings and valuations again.

Lockdown created a bottleneck

As soon as lockdown started all transactions stopped, so people who have been preparing over the winter months getting ready for a spring move had to stop and stall. As soon as the market picked up, buyers and sellers who’d been patiently waiting since early March made a quick move trying to sort out their property priorities quickly, perhaps worried about any further restrictions in the near future.

Changing lifestyles and priorities

After spending so many months cooped up in their homes, many realized that working from home might become more regular so they find themselves in need of more space or in need of a garden. West Dunbartonshire offers fantastic opportunities and great value for money for people who might be thinking of relocating from Glasgow to gain a bit of green space or an extra bedroom for office space.

Life events

This is what we call natural turnover – relocation, death, divorce, families getting bigger, smaller, people downsizing. People need to move home for a variety of life events related reasons – and that adds to the overall level of demand. Whatever life events many have gone through during the months of lockdown have brought the number of home buyers further up.

Attractive financing options and LBTT exemptions

The current financing options make property buying attractive and affordable. To top it off, people who are looking at moving have the extra incentive of moving quickly in order to take advantage of the LBTT exemption. In Scotland the tax exemption has been raised to property values of £250,000 and above until 31 March 2021.

West Dunbartonshire offers an option for first time buyers

First time buyers find themselves outpriced of areas they were targeting but again, West Dunbartonshire offers a wide variety of well-connected areas and property types so many might find extending their search might be surprisingly beneficial.

Typically people move within a 10 mile radius, unless the reason is a job relocation – and that has not changed over the last months. Buyers find it comforting to be around family and familiar places.

As one of West of Scotland’s longest established estate agents, Caledonia Property has helped locals buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.