BoE comment: "Still a great time to be a broker"

29 July 2021

John Phillips, national operations director, Just Mortgages and Spicerhaart said: “The housing market continues to show us how buoyant it is. Even with the slight dip in activity, it’s still a great time to be a broker.

“Although the market is cooling as the stamp duty holiday deadline has come and gone, we are still witnessing an incredibly active market. Borrowing reached a record high in June, which is unsurprising when we consider that house prices have experienced a surge this year. Even without the stamp duty holiday, there is still a wave of buyers looking to move and this will undoubtedly drive activity until at least the end of the year.

“With over 56% of the population now fully vaccinated in the UK, people really start to think about what the ‘new normal’ looks like. For many, this will mean a hybrid working pattern. Thanks to this, people are able to look further afield for property with more space as the commute time isn’t so daunting. Recent reports claim that buyer demand for properties in the outer boroughs of London is up by as much as 86%.

“It’s an exciting time to be a broker, and this morning’s figures only reaffirm that message.”