Demand for newly built homes in the U.K. looks set to spike in December, with the sector less hindered by holiday deadlines, according to a report released Thursday in the U.K. from Stone Real Estate.
Each year for the past five years, the level of new-build properties being sold has accelerated in December, while sales across the existing market have slowed down, the estate agency said.
More: Contemporary New Home Close to Cheltenham, England, Asks £1.7M
Since 2014, December has accounted for an average of 11.9% of the total new-build transactions for the year. In comparison, existing homes sold during December have accounted for an average of 8.2% of all existing sales.
“The new-build sector doesn’t come under the same seasonal strain when it comes to sales transactions when compared to the existing sector,” Michael Stone, founder and CEO of Stone Real Estate, said in the report.
That’s because on one side of the chain is a professional entity. The lack of chain means that deals on new builds can be made quicker and without many of the typical complications that can come with an existing property sale, he said.
From Penta: Experts Say Proposed 100% Retaliatory Tariffs on French Goods Will be Devastating
Though prices for new-build homes stand firm around the holidays, “developers will often include some festive incentives to persuade homebuyers to take the plunge,” Mr. Stone said. “This, of course, all helps favorably towards their end-of-year figures.”
This year, incentives offered may be even larger than usual, with developers reportedly particularly eager to transact amid the triple threat of the seasonal slowdown, the general election (Dec. 12) and the new Brexit deadline (Jan. 31).
The bump isn’t restricted to the last month of the year.
It’s typical for new-build sales to spike in March and June, too, according to the data. But during the rest of the year existing homes account for a larger proportion of sales.
"sales" - Google News
December 05, 2019 at 08:17AM
https://ift.tt/2reWHN6
U.K.’s New-Build Home Sales Set to Surge in December - Mansion Global
"sales" - Google News
https://ift.tt/2Y6RbrS
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "U.K.’s New-Build Home Sales Set to Surge in December - Mansion Global"
Post a Comment