Roderick Thomas Reveals Soaring Property Sales as Demand from Overseas Buyers Escalates

Somerset-based Roderick Thomas Estate Agents reported a continuing surge in sales since the start of the year, with demand from overseas buyers booming.

Roderick Thomas explained, “In the past week alone our Wells office has sold property to buyers from Hong Kong, Spain and the USA, had several further enquiries from the USA and also New Zealand.”

“We’ve seen a significant leap in the number of overseas buyers, particularly in the £400,000 to over-£1,000,000,00 price bracket. Confidence is high - international buyers are agreeing a house purchase, often at over £1,000,000, without even viewing the property in person first, simply on information over the phone or via email and the web.”

During the past fortnight the independent agency’s Wells and Castle Cary offices have agreed a total of 15 property sales, both to domestic and international buyers. Many properties are going under offer within just 48 hours of being listed, signalling the agency’s success in a housing market which continues to thrive.

In the Spring Budget this week, Chancellor Rishi Sunak announced new government measures for the housing market, including an extension of the current stamp duty holiday together with a mortgage guarantee scheme to help first time buyers get onto the property ladder.

Roderick commented, “Along with help for first-time buyers, an extension of the current stamp duty holiday up to £500,000 until the end of June plus a continued stamp duty reduction up to £250,000 until the end of September is certainly a further boost for the housing market and terrific news for both buyers and sellers. This will remove any fear of market panic and, I’m sure, keep sales buoyant into Autumn and beyond.”

“With Rightmove reporting a record high in online house-hunting last month, clearly there are a lot of buyers aiming to move this year, both in the UK and from abroad. We’re expecting to be busy for many months to come.”