9th October 2020
Market Comment – September 2020
September turned out to be robust both in residential sales, lettings and land and new homes.
I was correct with my prediction, in that activity even exceeded my expectations. Two particular areas to be noted is a 12% rise in prospective purchasers compared with the same month last year and a 31% rise in new help to buy enquiries on the same month last year and even the enquiries for the larger more expensive properties were higher than I thought, all underpinning the current news that there is a very healthy property appetite.
It was interesting to attend our annual conference a few days ago, whereby even though we have had a 3 month lockdown and all the uncertainty with coronavirus, transaction levels are only 3% down on last year and it is my personal view that this will catch up and overtake last year.
Whilst reporting on Septembers figures, I could not go without a special mention to our lettings progression team who moved in our second busiest month on record as a group and my thanks to them as I know there have been many challenges working strictly under the governments Covid-19 guidelines.
Broadly speaking, the split for prospective purchasers seeking flats and apartments as apposed to prospective purchasers enquiring for family accommodation was an equal split. However, it was identified at our national Estate Agent Masters conference that two of the biggest words searched on Rightmove for lettings this year were annex and garage and this comes as no surprise as so many people are working from home.
Whilst I know there will be challenges over the coming months, our focus remains steadfast in that it is imperative that the safety of our staff and clients remains un-compromised. We are continually adapting and innovating for safer conditions for all.
So I hope you all have a great and safe October and I look forward to reporting back to you at the beginning of November.