Market Update from Lodestone in The Mendip Times | Lodestone Property

A window of opportunity

At the start of 2020 the biggest challenge for the housing market was Brexit: was it going to result in a downturn even though we had certainty about which direction we were heading? But none of us knew that covid-19 was just around the corner which was going to affect every single one of us.

During lockdown for those of us working, we knew the demand for houses was growing and that there was likely to be pent-up demand when restrictions were lifted. the result was that we have had one of our busiest periods in the past weeks – for selling and buying.

There is no doubt that demand for lettings and sales from those who have been living in cities has significantly increased. the combination of wanting more space inside and out, as well as realising that working from home could become a permanent arrangement, accelerated some people’s plans and made them realise that relocating to the countryside could become a reality.

For others whilst spending more time in their houses than ever before, lockdown gave an opportunity for reflection and, as a consequence, have decided that it is time to move on. With the recent news that the government has provided an incentivisation for purchasers by reducing (or eliminating) Stamp Duty, this has focussed minds even more. Purchasers and sellers realise they have now a window of opportunity and are pushing on with their plans.

So, with active buyers and sellers there is a sense of urgency in the current housing market and the result is that lodestone is very busy. We would be very happy to offer advice if you are thinking of marketing your home or if you are just starting out on your search, please call us on: 01749 605099 or email me at:

Charlie Armytage is the manager of the Lodestone Property Wells office which is selling the Richmont Place development in East Harptree.

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