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Chesterfield property market update

Mon 27 Sep 2021

Chesterfield property market update

The last eighteen months have been tumultuous in so many ways. Every individual, every business and every industry, all over the world has been affected in some way by the pandemic. But how has the local housing market fared through all this? We caught up with Marcus Linsey MRICS, Partner and Chartered Surveyor at Bothams, to get his views. 

‘The Chesterfield property market, like elsewhere, has enjoyed a boom of late, with 2021 house prices increasing by 8% on last year. However, there are signs that the market may have peaked, as we saw a 3.7% decrease in June-July.

Overall, the stamp duty holiday has led to a continued rise in property prices and at Bothams we have experienced high demand from buyers and sellers alike. Many of our properties have sold very quickly, at or above the asking price, with some properties receiving multiple offers. However, now that the stamp duty holiday has ended, we have noticed a corresponding reduction in the number of new properties coming to the market.  

This growing imbalance of supply and demand will create a real sellers’ market which is likely to sustain house prices at their current levels as buyers bid to secure their dream home.   

Our advice for buyers? Firstly, register your details on our mailing list to be the first to hear about new properties coming to market. Be very specific about your requirements and identify your maximum budget.  Get your financing in place as soon as possible, as it’s vital for you to act quickly if you find your perfect property. Competition is fierce, so you need to put yourself in the best possible position and look attractive to sellers.

Looking to sell? Get in touch to book a free valuation. Thankfully, the days of Covid-19 bringing everything to a standstill appear to be almost, if not fully, over. Let Bothams help you get moving.