MARKET EXPLODES AFTER LOCKDOWN
Despite lots of negative media coverage as to how the housing market might react, we have been unbelievably busy since we were allowed to resume business. There was a lot of pent up demand anyway, which has returned, but now combined with new buyers who realized during lock down they need a property with more space, or a garden, or somewhere to work at home, or some other reason to move
We are managing to arrange viewings safely with our protocols in place and we are producing virtual tours for most properties we market. Of course we have got some existing buyers trying to negotiate a lower offer because of the various predictions house prices may fall, but you have to remember that forecasts are not facts, they are just guesses and most of the time they turn out to be wrong. The same forecasters predicted house prices would crash after the EU Referendum but they didn’t, while on the other hand none of them predicted the last financial crisis. After the crisis they then predicted that quantitative easing would cause inflation but that didn’t happen either so forgive us if we view economic forecasts with a pinch of salt. As Yogi Berra once said – its very hard to make predictions – especially about the future !