THE post-lockdown housing bonanza shows no signs of slowing down despite a generous tax break for buyers ending last month.
The stamp duty holiday, which was introduced during the pandemic to help bolster the housing market, ran out at the end of September, with many believing this would signal a downturn in the number of properties changing hands across Northern Ireland.
When introduced, the stamp duty holiday applied to properties worth up to £500,000 but this ended on July 1. The threshold then reduced to £250,000 but this too has now run out.
From October 1 the stamp duty threshold returned to £125,000. Stamp duty ranges from 2 per cent to 12 per cent of the purchase price depending on factors such as property value and whether you are a multiple home-owner.
A number of other factors, many of which were Covid-related, had also been fuelling the local housing market.
Factors included people having surplus finances from missed holidays, not changing their car or working from home. Lockdown also created a desire for people to get back outdoors therefore properties with gardens became more popular.
With working from home becoming an option in some companies, more people opted for their dream home as opposed to one which was close to the office.
As we approach the winter months estate agents are still reporting high levels of valuations being booked as the buoyant market shows no signs of coming to a halt.
Moving home can be stressful and a time when all of our focus often turns to contracts, removal vans and furniture shopping. But one of the fundamentals of moving into a new home is to ensure your home is properly insured.
An insurance broker worth their salt will shop around for the right deals so they can tailor a policy which suits your individual needs.
A top broker will have a large panel of insurers from across the UK and Europe to seek the great deals from, meaning you can enjoy the peace of mind of being properly insured at the right price. You can choose from policies such as buildings, contents, and buildings & contents.
It is important to ensure your cover matches your needs, so leading brokers will put together a policy that's designed around you and your home which can include: contents cover away from home, home emergency, accidental damage, replacement of old contents with new ones, cover for personal possessions if lost abroad, trace and access.
As times change, so do insurance products. For those who now call the spare room their office, you can get a policy which provides working from home cover.
:: Jeni McKelvey is personal lines director at AbbeyAutoline. To speak to one of the team visit https://www.abbeyautoline.co.uk
