Demand outstrips supply as the residential sector prospers

The restrictions on the housing market were lifted on 13 May and almost immediately, our Oxford residential sales professionals noticed an increase in levels of activity.

Despite the restrictions surrounding viewings due to COVID-19, activity levels have continued to pick up following the pent-up demand during the national lockdown, coupled with the recently announced stamp duty holiday. These factors have ensured weeks of strong demand and increased supply, which has led to higher-than-expected sales levels. This has continued through July, August, and September with no signs of any let up in demand.

In two recent cases where our Oxford office were instructed by charities to sell properties they owned, demand was so great that multiple offers were received which resulted in all bidders being asked for their best offer. In both cases, the eventual sale price greatly exceeded the guide price. The charities were delighted with the results.

We are continuing to see demand outstrip supply with buyers wishing to take advantage of the stamp duty holiday, and many hoping to move before any potential restrictions come into effect again.

For further information, please contact:

Simon McConnell
Head of Residential Sales, Residential
07557 285510

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