Having taken great care in keeping everyone safe, when we reopened towards the end of May, we are now fully operational and trading in what appears to be a very strong market. With a full month’s results to look back on, our findings make interesting reading when compared to June 2019.
The front end activity from new buyers is where the market starts. We have seen an 85% increase in enquiries from new buyers compared to this time last year. Balancing this renewed demand, we have had a 78% increase in requests for valuations from people considering selling their homes which has resulted in a significant number of new properties coming to market. Unsurprisingly the end result, on the back of more viewings and subsequent offers, is a 56% increase in the number of properties sold!
So where has all this demand and activity come from, especially when the latest Nationwide report, referring to the UK property market, was hardly inspiring. The first thing we have to remember is that the property market has always, and will always, be a parochial beast. Despite the economic headwinds, we still have nearly four years of pent up demand following the sluggish market since the referendum. This, coupled with the relatively lower values in central and east Surrey, make our area look very attractive - particularly to the many buyers now unfettered from work constraints who are now starting to move out of London.
Our view is that we will see an increasingly active market develop over the next few months and hopefully into 2021.
Contact any one of our four branches
, should you be considering selling your home, we would be delighted to help.