Lockdown is starting to ease and over the past 3 weeks, we have been asked lots of questions about what is happening in the housing market. It’s understandable – we are in unknown and unchartered times.
Questions range from – Will house prices drop? Should I put my house up for sale now or wait? Is it safe to move? Are houses selling?
We’ve only been back conducting viewings now for just over 2 weeks. Yet it’s been a very busy 2 weeks with a backlog of viewing requests to arrange, new properties coming to the market and lots of offers coming in. Already we have agreed 16 new sales across the Lancaster & Morecambe district and registered 154 new applicants – these are people looking for homes to move to!
Dataloft is a market research company that we work very closely with. They have gauged the initial views from potential buyers and seller following the re-opening of the housing market. The results below make for interesting reading. I hope that it answers some of your questions and gives you confidence in the local property market.
As you can see, people still want to move. Over 50% of people still wish to put their home up for sale as soon as they can.
Buyers still wish to buy. Buyers are still motivated, with many hoping to make the move sooner rather than later. Some purchasers are looking with a lower budget than they were earlier in the year although, for most this has not changed.
We’ll keep updating you with what is happening. For now, I’ll leave you with the knowledge that Westham Street, Rydal Road, Rose Grove, New Quay Road, Green Lane and Hinde Street all sold for their full asking price. Three of these sold before they even hit Rightmove.
There is still a strong appetite to move. If you want to talk property or just simply ask what is happening in the local market, please just ask. I am here to help!