Busting Market Myths!

We are constantly hearing the press talking the economy down with only doom and gloom… We want to stick our heads above the parapet and bust some of these widely reported market myths!

The government pressed pause on the housing market, and so it paused.  Transaction numbers reduced for that period of time and rightly so.  As a key part of the economy, property agents were set to work again only a couple of weeks ago, and what a couple of weeks it has been!  Our experience has been incredible and signs of a good recovery in the short term are very much with us. 

Nationally, the interest shown on Rightmove is down by comparison to last year when looking at the detail views, but look at the revelation happening in PR and BB postcodes!!

The graphs show interest levels soar the minute agents were eased out of lockdown!

Over the last couple of weeks Armitstead Barnett have:-

• Looked to arrange around 400 viewings
• Built on the existing technology we have access to make sure that we were ready for lockdown lifting safely
• Conducted viewings within guidelines
• Received high levels of interest, taking a number of properties to best and final offers
• Seen good interest levels throughout the market.
• Agreed plenty of sales

We asked a few clients how they feel things have been since lockdown eased.

Sam Fleuriot from Pringle Homes says, “We made 3 reservations in the first week, and have received a record number of enquiries since lockdown eased, with both at Northcote Park and Pennington Gardens.  Our houses have large plots and home offices – ideal for those working from home”

Developer David Price from 10Acia quotes, “We have seen astonishing pent up demand, agreeing sales at the high end for the North Preston market and other developments coming soon”

Chris Brown from Brindle Homes says, “We have been overwhelmed by the levels of interest in Withnell Hall and Withnell Hall Gardens, which has intensified since lockdown has eased.  The show home is nearly ready and with above 100 people wanting to view, we are getting ready to make sure that we can show people round safely”

Neil McManus from Lanley Homes says, “ The interest since lockdown eased has been fantastic, we have agreed a number of sales and taken reservations on our sites at Great Eccleston, Lea and Euxton”

Having spent considerable time in their homes, buyers are telling us that they are looking for something slightly different in their new property and in many cases, it seems to have brought forward a property move.  Many people who intended to move this year, still have plans to do so!  The Times also reported a surge in interest in prime country properties – something we have noticed too.  Many buyers are looking to be more rural and many of our vendors have enjoyed lockdown where they live and wish to remain rural!

It is certainly worth making the most of the pent-up demand that is there, alongside fewer properties entering the market – now could be a good time to sell, safely of course.

Hannah Towers BSc (Hons) MRICS FAAV MNAEA

hannah@abarnett.co.uk