It might be tempting to believe that the pandemic has been destructive and all-consuming on all fronts, especially in relation to the property market, which in Wales remains “on pause” and virtually, by comparison to usual times, ground to a halt over the last few weeks. 

But we British are a resilient lot! Our compliant “keep calm and carry on” mentality has meant that we have/continue to do our bit to protect our community, without losing our focus on those other things in life that are important to us. Our home comes close to the top of the list, along with family, relationships, job, pets, well-being and general prosperity.

While some businesses, for example a retail shop or a car showroom, will eventually start to trade again from where they left off, the property market is one type of business where the latent demand has accumulated during lockdown like a catapult being stretched. 

Many sellers and buyers wait in expectation for the next Welsh government announcement, will they decide to allow some movement in the housing market ? Or will lockdown remain a little longer?

Once released from lockdown we are expecting intense activity over the summer, to be conducted in a controlled manner that will need to adhere to government guidelines.  

In fact, recent research revealed that some 15% of home movers have been prompted to do so as a result of a change of plan due to the pandemic. During lockdown some people found that working from home suits them quite well, but they would prefer not to use their broom cupboard as an office. Perhaps time spent during May’s warm and sunny weather has sparked an interest in gardening too? 

Unlike other scenarios that might adversely affect the property market, we have a good balance of supply and demand, interest rates are incredibly low and banks are keen to lend. So, although statistics will show that due to Covid-19 lockdown sales might be down perhaps 25% this year, the consensus is that the rebound is likely to be strong.

The dynamics of the market may be changing, but we at Williams & Goodwin are ready for the challenge. 

Whilst we are of course highly respectful of the guidelines for safe property viewings, our focus remains on offering sincere, straight-talking and sound property-related advice to our customers. 

The pandemic might have changed society, but, as we emerge from our confinement, our vision remains the same:

We help match property to people; 

We help people in their decision making process; 

We help people find a home for their family or business and 

We help people move, whatever the circumstances.

If you feel moved to move and need help in making that big decision, why not call us on 01248 751000 for an initial chat? 

You might be pleasantly surprised.

Regards

The Team at Williams & Goodwin The Property People Ltd

To book a Virtual Valuation to discuss the possible asking price of your home please click here:

 https://williams-and-goodwin.engage.epropservices.com

To read more about our Covid19 Health & Safety Measures please follow this link:

https://www.tppuk.com/our-blog/post-were-putting-people-first-1590594667

Williams & Goodwin The Property People Ltd have local Offices in North Wales at:

Holyhead 01407760500

Llangefni 01248751000

Bangor 01248355333

Caernarfon 01286677775

Auctions 01248753939

Property Management 01248724040

To find out more, please visit: www.tppuk.com

©Copyright Williams & Goodwin The Property People Ltd also trading as All Wales Auction:

Photograph from Shutterstock.

LOCKDOWN REMAINS FOR NOW FOR WELSH HOUSING MARKET - hopefully a step closer to a time to move on again.....

First Minister Mark Drakeford has today announced the latest parameters in Wales.

The announcement focused on allowing some social interaction but was clear that the priority is physically limiting spread.

Please read our Covid-19 Health & Safety Measures:

Together, let's secure a safe, satisfying sale or letting.  here is a link to our intended Health & Safety plans (subject to Government Guidance & when lockdown is lifted in Wales) on conducting business with you:

https://static.propertylogic.net/members-media/system/2/MULTIPLEOFFICE-GuildGeneric-SixPointGuide-v3_B2C.pdf

Due to the current conditions, our June auction will move to online bidding.  Properties available will be released once we are permitted to commence viewings again with our first lot going under the virtual hammer about 4 weeks later.

If you are concerned about the speed of your sale or have a property that may be suitable for selling by auction, please contact us and we will discuss the suitability of your property for this method of selling.  PLEASE CALL the AUCTION team on 01248753939 

VIRTUALLY TOGETHER

The housing market has been put “on pause” in Wales and thereby indirectly an obvious casualty of the Coronavirus lockdown. We will soon know if the lockdown is to be extended in Wales or, if some form of “restrictive” movement will be allowed that will hopefully lead us to the new normal way of conducting business.

Our lockdown enquires prove that the desire to move is strong, once the decision has been made. 

Indeed, as soon as the government announced that people could once again move house in England, Rightmove buyer enquiries doubled within 24 hours. They were even higher than the same day last year!

One issue the market may have moving forward is that this demand may not being matched by properties coming to market in this area. As estate agents we have generally not been able to list new to market properties over the past couple of months and the tight social distancing regime will continue to be a challenge. 

However, we have been amazed at how flexible and innovative local homeowners have been. Many, keen to prepare for the deluge, have provided us with some very clear and often entertaining virtual walk-throughs which have given us a pretty good indication of the type of property we’ll be preparing to market. 

Time has been a gift for many sellers – nothing has needed to be rushed and full preparations can be made – that touch of paint, garden tidy, garage clear, etc have all had their place and we have been impressed how sellers have adapted to our new norms!

We all hope I’m sure that when the lockdown is lifted, it will be in a timely manner, safe to do so and people will continue to follow guidance to do all we can to make sure the virus doesn’t re appear.

We’re expecting momentum to build over the coming weeks and months, especially as there is unlikely to be any summer holiday lull this year! 

Those whose plans have been unaffected by the pandemic are leading the charge here, but there will of course be virus-related moves as well, which could help fuel the market. For example, additional sales may be created as a result of:

1.  Job losses (sadly), prompting people to consider moving as they pursue other opportunities. 

2.  New jobs being created as businesses reappraise their efficiencies and locations. 

3.  People realising that working from home has worked well for them – but a bit more space would really help. 

4.  Frustrated family members, pulling their hair out under lockdown, deciding to buy a place of their own

5.  Buyers locking-in a low interest rate before any potential hike

Certainly, space to work from home may now command a premium – even potentially replacing proximity to transport links as a must-have attribute! 

So please don’t wait “until the coast is clear” (it may never be)! If a move is on the cards please do call us to talk through how we can help you take advantage of this unexpected increase in demand over supply. 

Together, let’s secure a safe, satisfying sale or letting.

Regards

The Team at Williams & Goodwin The Property People Ltd

Local Offices in North Wales at:

Holyhead 01407760500

Llangefni 01248751000

Bangor 01248355333

Caernarfon 01286677775

Auctions 01248753939

Property Management 01248724040

To find out more, please visit: www.tppuk.com

©Copyright Williams & Goodwin The Property People Ltd; Photograph from Shutterstock.