BACK IN BUSINESS – ONE MONTH ON

I suspect that anyone involved in the property market was somewhat surprised to hear on the evening of May 12 that the market would be allowed to resume trading the following day.  I certainly was!

For me personally, it heralded a spell of frenetic activity as my mobile rang and pinged with a succession of new enquiries from sellers and buyers alike. 

It soon became apparent that the restrictions under which estate agents now operate, (whereby appointments must be conducted using appropriate PPE and observing social distancing and viewings should only be undertaken with those likely to make an offer and limited to 15 minutes or so with just two adults from the same household in attendance) was producing a core market of motivated movers and the results have been excellent.  More wheat, less chaff!

Across Norfolk and Suffolk, the market for quality country and coastal houses has bounced back remarkably well.  We have agreed 30% more sales and viewing levels are 37% higher than the equivalent period in 2019; frankly, we are delighted with how things have been in the last month and had not dared hope the market would prove so resilient.

Bearing in mind that people are still not permitted to stay overnight, it seems likely that we will only become busier once our hotels, holiday lets and second homes begin to fill up. 

Of course, this may simply represent a combination of a release of pent-up demand and a knee-jerk reaction by some following a period of reflection…we hope not.

Unsurprisingly, buyers’ requirements seem to have been influenced by recent events and larger gardens and villages with strong community spirit are proving especially popular.

Meanwhile, I am sure that some sellers are delaying their plans until the threat of coronavirus is lessened by a vaccine or cure; however, for those who have decided to press on with their plans now, the prospects of a sale are excellent. As for our offices, we are open and shut!  That is to say we are open for business, albeit shut to the general public other than by appointment, just for now.  So if we can help with your sale or purchase, please do get in touch.