“In January we saw changes in Stamp Duty with second home owners being hit by a further 3% Stamp Duty. What effect has this had? Well, let’s say it has had a huge impact for investors who just wanted to put funds into bricks and mortar for their future, rather than putting it into banks which are offering a miserable return”.
Did this slow the market down?
Linda Crapper comments: “It is all about location, location, location and the answer is that prices have slowed down slightly. However, demand still outweighs supply. There is still a shortage of homes coming on to the market which has kept prices achieving the asking price or as much as 1%-3% higher.
“In the middle of the year, we saw interest rates fall, yet again, to an all time low which has definitely helped achieve sales. However, we need additional properties to sell in order to start the market rolling again.”
Linda added: “Brexit has had an effect with confidence this year, we have had no leadership of how it will exactly affect us, so come on Prime Minister give us some leadership and answer what it is that you want to happen next and how it will affect us overall. When you look back the people who were pushing to leave the EU, such as Boris Johnson and Nigel Farage as soon as they won, both walked away. I don’t feel it will affect the housing market, due to there being a shortage of homes already.
“We have seen a hive of success stories in certain areas where there are big expansion plans, such as in Stocksbridge, with its buyers starting to look further afield in this area. I am not surprised with the extra infrastructure that has gone into this area with the large shopping centre (Fox Valley Retail Shopping Centre) which boasts an array of restaurants including Ponti’s Italian Kitchen and quality retail shopping facilities with Sanderson’s Boutique and Seasalt Cornwall etc. We have to give Dransfield Properties a ‘well done’ for their inspiration. Also within close proximity of the area there are a few hundred new homes to be built which are vital to keep the economy going as there is a lack of new homes. In all, excellent signs for regenerating this area which also has easy access to Sheffield and motorway connections.
“Sheffield is a vibrant and cosmopolitan place to live with the added advantage of green belt on the doorstep.”