What’s happening in the property market…let me know your thoughts!

So we’re coming out of lock-down, the economy is beginning to open up with all shops opening on the 15th June.  So how have...

So we’re coming out of lock-down, the economy is beginning to open up with all shops opening on the 15th June. So how have we found the property market for sales & lettings?

Lettings 🏠

Lettings has been absolutely manic for the past 2-3 weeks, since we’ve been allowed to open. I think people were stuck in their houses, literally staring at 4 walls and going nuts!

Do I want to put up with that leaky tap anymore?

The kids are driving me mental I need more space?

I better get a garden, if this happen’s again?

So we’ve been inundated with tenants phoning up for properties and had two amazing weeks full of virtual viewings, physical viewings (who would have believed it! 😎) and lots of holding fees and let properties.

So all good on that front 👍

Sales 🏡

Again this has been incredibly surprising, where we thought people would be put off a major financial decision due to the uncertainty of lockdown, we’ve also been incredibly brisk. Last week we sold 4 and with the majority of our stock being landlord properties, we’ve been able to do viewings while avoiding some of the more restrictive social distancing measures required for properties which are currently lived in.

There’s been a lot of talk in the press of house prices falling at their fastest pace since 2009, dropping by 1.7% in May but considering what we’ve just been through I’d say that was incredibly positive!

The Future ❓❓❓

In all honestly I don’t know but I’m incredibly fearful of the effects of social distancing on the wider economy. I personally can’t see how many industries can maintain their current staffing levels under those circumstances or even trade profitably. I’m beginning to worry more and more for peoples jobs and what this will mean to our wider communities in the North-East.

But let’s finish on a positive note and say that this virus hasn’t beaten us and as always if you keep your head down and work hard we’ll beat this thing!

Let me know your thoughts?