The housing market has certainly seen its share of ups and downs, but I don’t think there’s ever been a time when not a single viewing could take place, over the course of so many weeks at once! These are the strange times we’ve been living in, and many who are desperate to move will have found it a very frustrating period.
But I am delighted to say that we seem to be over the worst. The housing market reopened on 13 May, and lockdown began to ease from 1 June. I’ve been able to organise an incredible number of listings and viewings over these last few weeks – all done under the new guidelines and social distancing restrictions, of course.
It seems there’s no shortage of demand on a national level, as well. Rightmove reported that on the day the market reopened in England, visits to their site hit 5.2 million, which is 4% more than on the same day in 2019. Both RightMove and Zoopla have reported surges in rental enquiries as well as sales, and although the number of properties coming onto the market was down 90% on the same 2019 period, it’s looking as though the lockdown period has had a major influence on helping people to decide it’s time to move on.
It’s not surprising; our homes have been the centres of our world for the last couple of months, and while some may have loved being in theirs, many others will have decided that it’s time to get their property listed. Perhaps they’ve realised they could do with more room; perhaps they are looking for an outdoor space that they were missing in lockdown. Whatever the reason, millions are out there browsing for the home they can fall in love with – one they can retreat to again in the future, should more lockdowns occur.
I’ve heard lots of debate about the effect the pandemic will have on house prices, and with very little completion data for the last couple of months, it’s hard to say with evidence what the future will look like. However, this is a market which is led primarily by supply and demand – and as I have seen from the dozens of new enquiries I’ve had from both buyers and sellers, and backed up by those RightMove figures, the demand is certainly there.
We’re also very fortunate to live in an area with such enduring appeal. Milton Keynes, with its thriving economy, its parks and lakes, many excellent schools, rich cultural offerings, and easy transport links to some of the UK’s major cities, mean its property is likely to remain highly desirable in the short, medium and long terms.
To list your property or enquire about one to arrange a viewing, please contact the office.