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Unprecedented demand for properties to buy or rent – we have the applicants, now we need more houses!!

July 20, 2020 Kate Porter

By the time the government had launched its #keepthecountrymoving campaign activity levels were already high. We were receiving lots of enquiries from applicants looking to buy or rent and mainly from families looking to move out of London.
The level of interest has remained high. Applicants who made plans during lockdown to change their work/homelife balance, to embrace a more rural lifestyle, to have more space and access to the open areas have followed their plans through. The changes to stamp duty have been a further boost to an already busy market.
The results of a post Covid survey of 500 respondents conducted by Savills tell us that:
• The experience of Covid-19 had caused almost three quarters to reconsider their work-life balance
• This has made them become even more committed to moving, not just in the next 12 months but also in the shorter term
• There is less stock on the market than they expected and more competition among buyers
• The stock that is available is priced more highly than they had anticipated
• But a surprisingly high proportion will take a short-term view on future values if buying today
• Where they are unable to secure a property in the next six months, renting is a viable option for around half of prospective buyers in the current market
We have certainly seen these findings reflected in activity within The Country House Company. Rental and sales transactions during the past quarter are up on last year, despite the lockdown restrictions dominating that period. The demand is still high for reasonably priced properties for sale and to rent; so, if your plans and thoughts are reflected above then now is the time to act. Call Kate Porter or Claudia Hunt to discuss your property and the options open to you. 02392 632275
Marishelle Butler