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What does the relaxation of lockdown restrictions mean for the property market?

Wed 13 May 2020

Let's get moving

Entering the post-lockdown world was always going to be a challenge, and no doubt there will be various news articles and industry press releases commenting on the property market. The truth is no one can be clear what the market will look like in the coming months – this is, as we’ve all said, uncharted territory. However, there are certain things we do know:

1.     Demand should continue to outstrip supply and we are not building enough new homes as a Nation.

2.     Interest rates are historically low and are likely to remain so. Accordingly, borrowing is very affordable.

3.     Property prices in the majority of the South West continue to be very attractive compared to other parts of the U.K., especially London and the Home Counties.

4.     The demand for second homes in our coastal 'hotspots' and rural areas helps to underpin the local market.

5.     People will continue to need to move house for a number of reasons, jobs, relationships, change of lifestyle etc.

What is important…

Our previous article ‘No place like home’ rings true, now more than ever people are evaluating what is important to them, their family and where they want to be in the future. If you are thinking of selling your property, or indeed are looking to buy get in touch with our team. For many moving home is a stressful time, now more than ever expert advice and experience counts. 

What’s next?

Now that the Government has announced the ability for the property market to ‘re-open’ we anticipate an initial surge of enquiries and activity. Over the past few months we have been taking details of those interested in viewing properties, and now have around 500 viewing requests to fulfil. Our initial priority is to book in these viewings, however, we are all too aware that Coronavirus hasn’t gone away, and it is our duty to ensure we help in the fight against the virus.

Safe steps

The health and well-being of our staff, clients and local community remain our priority, therefore, we have updated all our practices in accordance with the government guidelines to ensure we can safely get the West Country property market moving.

Our teams are here to help you move forward, get in touch with your local office. We’re here to help.  

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