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.
The Team at Williams & Goodwin The Property People Ltd
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