Steve Tetlow (MD): Market Comment

August 07, 2020

It’s hard to believe that as a profession, we were able to re-open for business just 11 weeks ago, as the time seems to have passed in the blink of an eye.

To suggest that things are back to normal certainly isn’t the case, given that we now need to contend with the likes of facemasks, gloves, bucket loads of sanitizer, and screens on desks to protect both ourselves our customers.

The business of selling and letting homes has bounced back, and we are operating to the levels of pre-lockdown.

The period of lockdown allowed everyone to reassess their plans for the future and, as a result, we experienced a massive surge of interest from potential home buyers, which is now being matched by initially hesitant homes sellers, resulting in a very active housing market.

Similarly in the lettings market, tenants desire to find outside space to enjoy has created additional demand, as has the need to find or create extra space for those who are now working from home, as against facing a daily and occasionally long commute to work.

With the combination of the holiday on stamp duty for purchases up to £500,000 (valid until the end of next March), continuing low-interest rates, and the Help to Buy scheme to assist the purchase of a new home, we forecast that the market will remain buoyant during late summer and the autumn.

Although the choice of properties has improved, demand remains very strong so if you are considering a move please contact us and we’ll do our very best to help.

Steve Tetlow – Managing Director

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