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Allan's May Market Update

Published: 12/05/2021 By Allan Fuller

As restrictions ease, and from Monday the 17th in England, the opportunity to eat inside restaurants rather than shivering outside, something closer to old style normality, beckons.

What and where you may ask is any normality in the property market. Let’s start with lettings as that is simpler. Generally there has been a small reduction in some rent levels compared to pre Covid levels. This is not too worrying for landlords as they will still be receiving a reasonable income. For tenants it means more choice and lower monthly payments. There are exceptions, mainly for properties with their own outside space due to the high levels of home working and a vast increase in pet ownership.

The sales market has been extremely active, we have arranged a vastly greater level of sales compared to levels in recent years. Houses and flats with gardens have been exceptionally sought after, often attracting multiple offers. Conversely, flat sales had been slower however this has begun to change for us with several sales agreed in the last few weeks. What will be very interesting will be seeing how much more activity will be generated by the government scheme aimed at giving considerable help to first time buyers to be able to buy.

I will keep you fully up to date with what the new normality turns out to be for property.