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Its all about the garden

1 Aug 2020
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Its all about the garden
A beautiful London garden

This week in five seconds

  • Properties with outside space are consistently selling more easily
  • Agents remain extremely busy and the market is competitive
  • Viewings have slowed to a more consistent place
  • Vendors are cautious about their pricing strategy, not wanting to be stuck with reduced prices, listing keenly 

Gardens in demand

One consistent theme we are seeing and agents are reporting is the increased demand for outside space.

This is not surprising given it is summer and Covid has kept children at home (out of school) with restricted park access and limited/no travel options.  The demand for outside space has been felt more acutely by those that don’t have it and is now an even more important part of any house move.

Vendors should be conscious of this in their pricing demands.

Extremely busy

As the volume of listings has risen rapidly since the lockdown, with agents slowly unwinding their staff from furlough, they are finding themselves swamped with both listing and viewing activity.

Viewings have eased off from the initial burst post lock down to a slower but more sustained level.

No notable trends in property prices 

We are keeping a close eye on house price moves and reviewed this in detail by market segment this week after Zoopla’s June house price report suggested there was a significant excess of demand (which we assume is leads from their portals to agents) over supply year to date and multiple news outlets reported this as price rises of +2.7% year-on-year and +0.2% month-on-month.

Prices may be at a structurally higher level than last year but what is important now is the trend post-Covid, not year-on-year or month-on-month. At this stage we see no evidence of house price rises or falls post-Covid, a flat market at this stage. We will continue to monitor and will report accordingly.

 

Have a great weekend all.

 

The Movewise Team

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