Market Comment – November 2020
As we approach the end of the year and we emerge from another lockdown, I would firstly like to thank all our clients who have vigilantly adhered to strict government guidelines, all the precautions and extra measures we put in to place for the safety of our staff and the public in November.
I confess, I am pleasantly surprised at the activity both in the residential sales and lettings market during November, as we saw more enquiries from the portals than I expected, up 4% on the same month last year for residential sales and up 6% on the same month last year for lettings enquiries.
Whilst the lockdown in the beginning of the year was difficult for everybody, it prepared us for the second lockdown and for all those working at home including solicitors, property management and so many others, all seemed to work streamline and efficiently.
The stamp duty holiday which finishes on the 31st March 2021 is still generating good levels of response up to £500,000 and equally the help to buy scheme still really provides high levels of enquiries and our land and new homes department this year has gone from strength to strength with us completing on hundreds of houses and apartments across the borough this year.
We are already producing brochures and marketing material strategies for launches in January 2021. These launches will have an appeal to all types of purchasers, from a development in Thornton Heath with apartments ranging from £200,000 to 5 bedroom executive houses on a new gated development in Kenley from £1,350,000.
Whilst I appreciate and know it is still a difficult time for us all, we are obviously continuing with strict government guidelines with every part of our processes in respect of buying and renting and I would urge any prospective tenant, purchaser, landlord or vendor to contact us in advance so we can run through our procedures prior to any visits to a property or properties.
There is every indication that there will be normal activity levels across residential sales and lettings and I suspect due to recent trends there will be a spike in new homes enquiries in the month of December.
Which only leaves me to wish all of our clients past, present and in the future, a very happy and safe Christmas and I look forward to reporting to you all in January 2021.