After weeks of stagnation, it was announced last week that the housing market was to reopen again and us estate agents, along with surveyors, house builders and other associated industries could all return to work.
Good news then for the property market and indeed the wider economy as well, but what state is the housing market now in? With lots of speculation from the media and their experts over the last few weeks all suggesting some kind of armageddon upon our return, we can actually report something – so far at least – quite the opposite.
Going into the Pandemic, the property market was strong. Good demand for all types of property met with what seemed to be a “let’s get on with it” attitude from the buying and selling public following months, indeed years of uncertainty with Brexit meant that things were looking very buoyant for the UK housing market indeed.
During lockdown, the Government and Bank of England have done all they can to ensure things remain as stable as possible also; The Furlough scheme protecting millions of jobs and an unexpected cut in interest rates from the Bank of England to name just a couple. The latter giving potential borrowers the lowest interest rate this country has ever known.
So how has the first week or so back been? Well, in short busy! Enquiry levels are up, looking at our figures actually up on February proving maybe that much of the buying and selling public are unperturbed by the media and still have the “let’s get on with it attitude” they had adopted earlier this year.
We haven’t had a wave of buyers disappearing or indeed tumble weed running through our offices. Although it is very early for any predictions to be made, it would most certainly appear that the ever-resilient UK housing market is just that – hugely resilient.
Therefore, if you are considering a move this year, there really is no reason to delay – why not contact us for some free initial advice on 01702 470066
Paul Dobbs