The property market in South Liverpool is experiencing its own ‘mini-boom’ as house hunters are desperate to find new homes after the lockdown, and some properties have been selling in as little as two weeks.
According to the Liverpool Echo, estate agents in the area have been swamped with enquiries for houses in the property hotspot, where buyers are queueing up to view desirable homes and competing over the offer price.
Estate agents have commented that the South Liverpool area has always boasted some popular postcodes, such as Mossley Hill, Childwall, Wavertree and Aigburth, in recent months buyers have changed their priorities, and are now seeking larger homes with gardens, and of course, wanting to take advantage of the stamp duty holiday.
One estate agent noted that one property on Bowland Avenue in L16 received seven offers, all above the asking price of £200,000, and one property on Beauclair Drive in Wavertree was so in demand, the agents stopped taking any further viewings. In its first week on property portal Rightmove it attracted 49 enquiries, nine offers, and was sold within two weeks of being listed.
It is a dream situation for sellers, but the highly competitive arena makes it difficult for buyers.
The reopening of the housing market on 13 May had estate agents and buyers uncertain how the industry would be affected by the continuing pandemic, but pessimistic views were proved wrong when there was a huge demand across the UK.
Aided by the stamp duty relief, and motivated buyers, the surge is not yet seeing any signs of slowing down just yet.
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