Market update
“Since re-opening our doors following Lockdown on the 18th May, demand for both valuations and viewings has been phenomenal, which is really pleasing to see and has resulted in us being market leaders.
We have seen buyer registration increase across all price ranges with financially qualified and motivated buyers looking to purchase a home.
With the safety of our clients and staff so important to us, we have had some really positive feedback on the way we are doing business safely, with all staff equipped with PPE for clients and ourselves, and adapting to the “new normal” way of working with social distancing measures in place.
We have also received very positive reviews of our virtual viewings and video tours that we are arranging initially, which in turn is helping us re-qualify buyers and ensuring that we are conducting quality viewings over quantity and making sure buyers who are physically viewing are spending their time viewing the right properties for them. This has seen our viewing to offer ratio decrease to an average of 6-1 rather than an average of 10-1 prior to the Covid-19 lockdown!!
Further good news is that banks have just started to re-open their mortgage lending criteria again and surveying firms are starting to conduct mortgage valuations. With the base rate at an all time low of 0.1% - there really is no better time to look at buying a property, as there are some unbelievable mortgage deals available. I very recently helped a client with 90% LTV and managed to recommend her to one of our recommended mortgage advisers who got her a rate of only 1.79%..!!!
Now could be the best time to purchase a property to take advantage of the cheapest mortgage rates that have been available for years!
Although there is some negativity from the press at present with what they feel house prices will do in the coming months, we haven’t seen this so far. It’s far too early in my opinion to speculate on what might or might not happen. The fact is that the housing market will always be dictated by supply and demand, which currently is high.
Please get in touch if you are looking at selling or buying a property within the Farnborough, Camberley and surrounding areas, as we really would love to help. ”
