How has the COVID-19 Pandemic changed the UK property market?

The property market has remained open throughout the 2021 UK lockdown with in-person property viewings and moves going ahead. The UK government’s temporary stamp duty cut has greatly contributed to an increase in sales since last July and has allowed buyer’s the opportunity to potentially save up to £15,000 in tax if they move home before 31st March 2021. According to provisional data from HMRC, 129,400 property sales went ahead in December 2020, an increase of 32% year-on-year.

How have house prices changed, and what will happen next?

Although the way in which the COVID-18 pandemic has affected UK house prices is becoming more apparent, the ongoing stamp duty holiday and lockdown measures in England, Scotland, Wales and Northern Ireland means the figures may still fluctuate.

However, if we take a look at the Land Registry’s UK House Price Index, which is based on sold properties and is a reliable indicator of house prices it is evident that the average price of a UK property has increased by 1.2% month-on-month, and 7.6% year-on-year in November, reaching £249,633. Please note the Index data is on a 2-month delay and therefore November’s are the latest available figures.

Property portal Rightmove provide more up-to-date figures and in their January report have disclosed that the average asking prices not sold prices have decreased by 0.9% month-on-month, but have increased by 3.3% year-on-year.

When considering what may happen next, many property market experts are optimistic and expect the property boom to continue, whereas others believe the market and house price growth could begin to slow down once the stamp duty cut and the government’s coronavirus financial support schemes end.

House Prices in Trafford, Manchester 2021

Located in Greater Manchester, Trafford is a sporting-hub of the North and home to Manchester United’s legendary Old Trafford Football Ground, Emirates Old Trafford and the new University Academy 92. The area boasts fantastic transport links with easy access to Manchester city centre and a welcoming community spirit.

According to data provided by Rightmove, the average price for a Trafford home in the last year is £222,865. The majority of sales were terraced homes averaging at £251,893. The average price of a Trafford apartment is £121,786 and the average price of a semi-detached property was £298,326. Overall, sold house prices in Trafford are up by 44% on the previous year.

How SureStore Trafford can help you to move home

Are you ready to move home the easy way? It’s a sure thing with SureStore Trafford. Our modern and purpose-built self-storage facility offers secure home storage solutions, with differently-sized self-storage units ranging from 10sqft to 200sqft+.

Whether you need to temporarily store some of your possessions, or all of your household items and furniture, we’ve got the solution for you! Our flexible and affordable self-storage units will keep your possessions clean, dry and secure whether it’s just a few boxes or the entire contents of a five-bedroom house.

Our home storage service at SureStore Trafford can help to make your move as smooth and stress-free as possible, especially if you’re experiencing delays in the buyer’s chain and require storage while you wait for your keys. You can also use our self-storage units to save space in your new Trafford home or to ensure your favourite furniture isn’t damaged when you decorate.

All of our Trafford self-storage units boast individual hi-tech alarms and benefit from 24/7 CCTV surveillance. You’ll also receive a unique key code for safe, remote access! So, if you’re interested in a home storage solution at SureStore Trafford, call our experienced team today on 0800 0129133, or use our online booking system!