2020 will be etched into our minds for the rest of our lives as an historical timeline to remember. It will be the year that will be taught in our schools to future generations for many years to come. It was also the year we had to learn to adapt and over come, and very quickly.
This part of the story we all know, we all have our individual stories to tell. However, where do we possibly begin when explaining the Milton Keynes property market of the past 12 months?
In his summer statement of 2020, the Chancellor of the Exchequer, Rishi Sunak, announced a Stamp Duty Holiday which would turn ‘generation rent’ into ‘generation buy’. This was set out with the promise that would help hundreds of thousands of people buy a home in a market that would simultaneously support the UK economy, especially at such a critical time, and it worked!
This was the catalyst for growth in the UK property market and it created a significant boom in the Milton Keynes property market that exceeded all of our expectations.
Thomas Connolly, which comprises estate agency, lettings, land agency and new homes, is located in The Hub, Central Milton Keynes and has witnessed a record year in residential sales, new home sales and residential lettings as thousands of home buyers took advantage of the enormous stamp duty savings which allowed them to increase the size of their property and in some cases, their property portfolio which otherwise may have been a stretch too far.
In addition, the summer months of 2020 were exceptionally hot and quite unforgiving for us all, none more so than tenants (many of whom had small families) who experienced the entire lockdown processes whilst living with doors and windows closed in high rise accommodation.
The way in which most of us worked changed in such a small period of time, and that created a surge of professional tenants from areas outside of Milton Keynes (notably London), into the town in a search for properties that offered the freedom of a garden and perhaps a greater level of comfort, often at a reduction of living costs.
The entire property market changed in during that time too, the positivity it created caused a huge surge in demand for more properties in Milton Keynes to sell and to rent, subsequently record prices have been realised and the demand from home buyers, investors and tenants remains at an all-time high.
Thomas Connolly Estate Agents is a locally owned independent estate agent employing 24 full time staff, all of whom live within Milton Keynes. Our culture is to operate with an honesty and an unrivalled knowledge of the area through our experienced staff.
Furthermore, what makes Thomas Connolly Estate Agents the local agent of choice is our renowned connections to overseas investment. These connections allow us the opportunity to facilitate hundreds of Arabic families to invest in properties in Milton Keynes for both holiday homes and also for investment purposes via the private rental market.
In our opinion, this aspect of our business, together with our marketing within the UK and local markets allow us to present each of our properties to a greater audience than that of our competitors.
We genuinely and quite urgently require more homes to sell and rent to waiting buyers and tenants alike, the market over the past twelve months has been and remains exceptional.
If you are thinking of buying, selling renting or letting a property, contact Thomas Connolly Estate Agents on 01908 774422 or email info@tcmk.co.uk to see how we can help you move
