LOOKING INTO OUR CRYSTAL BALL…
I’m sure many of us had similarly mixed feelings on hearing today’s announcement that we must continue to stay at home unless essential for at least another week – and only the most optimistic amongst us would have thought that the lockdown might end in a week.
On the one hand, we all want to do our bit to help the country and our communities get through this, the opportunity to spend this extended period of time at home with our families is an unexpected privilege and our gardens have never looked as well-tended!
On the other hand, life feels very much ‘on hold’ for those of us more used to taking responsibility for our actions (rather than being responsible through inaction!) and of course one cannot help but worry about life-after-lockdown.
We have spent the last three weeks mainly talking to people involved in our pipeline of sales; sellers who have accepted an offer, buyers who have found their dream home and fellow professional agents, lawyers and surveyors involved in the transactions, all hoping to progress the sales as far as possible under the current restrictions.
Generally, the sentiment has been positive although, understandably, concerns have centred on how the economy and the property market in particular might be affected.
Gazing into the Bedfords’ crystal ball, and reflecting on past recessions, we predict a ‘flight to quality’ whereby the market favours and supports best-in-class houses in prime locations. There may be a down-turn in the mass market and secondary locations, but best-in-class should significantly out-perform the rest of the market.
We have specialised in the sale of these best-in-class properties for decades; it is our core market and one for which we have an instinctive feel, allowing us to provide our clients with savvy advice based upon years of experience.
Despite the uncertainty as to when the market might be permitted to resume, we have a number of clients already planning for life-after-lockdown. If you want to discuss the sale or acquisition of a property and similarly prepare for life-after-lockdown, please get in touch and we would be delighted to assist.
