The government announcement on 12th May was a welcome surprise as we were anticipating we would open up with the rest of the High Street later in June. Naturally we took all the precautionary steps to protect not only our staff but the public before we opened, but we are now up and running and as far as possible COVID safe.
Looking back over the last four weeks the number of new sales and lets has way surpassed our expectations. We have had an abundance of new buyers registering with us, all very keen to secure their next home. We are seeing an all-time low on our viewing to offer ratio, meaning that those people out physically viewing are incredibly motivated to actually purchase. As we are only physically showing homes to those who are in a position to buy, the market is purer now than prior to lockdown. This is resulting in sensible offers from purchasers who are keen to move, many of whom are coming out of the London boroughs looking for more space and a garden as they now have the freedom to work from home!
We also have some really enthusiastic sellers looking to take advantage of this up-swing in activity too, with a noticeable rise in new properties coming to market. Those properties which have been on the market for a little while are keen to lower their asking prices slightly to attract a new audience.
With mixed signals in the national press and some sensationalistic headlines, we wanted to reassure anyone considering selling their home that there hasn’t been the huge fall in asking prices. From our small corner of the world we have seen asking prices at a similar level to before lock down and to affirm this, of the houses we have sold so far in June, on average, they have been agreed at 97% of the asking price.
We have all the ingredients for a buoyant housing marketing moving forward, and whilst there may well be economic headwinds, we will see the local market boosted by the increased drift out of London. If you were considering selling this year, now is the time to talk to us