Now, as we go back to work and head further into spring, those green shoots of recovery are popping up everywhere. And, in only a few days time we will be taking our first real steps towards freedom as our high streets re-open. As a result of our highly successful vaccination programme, most of us feel it is likely to be the last time we have to go through this process, at least on a national scale. That confidence in the future is especially important for the housing market because moving home is a major decision and we tend to put off making those kinds of decisions if there is any degree of uncertainty. Let’s face it, if you’re not sure whether you’ll still have a job next week, the last thing on your mind is a house move. In fact, it’s quite amazing, under the circumstances, how resilient the market has been during the pandemic, although there’s no doubt, the stamp duty holiday had a big part to play.
All the data now shows many of those who were biding their time are starting to throw off their shackles and get moving again and there are reports from across the country of stock shortages. It’s especially good news for London, where rents and sale prices had fallen during the pandemic. Those falls mean prices are now highly competitive and the early movers have already been taking advantage of the benign conditions. The latest market reports, however, show both rents and sales prices in the capital have now turned the corner and are starting to slowly rise again. This is a process that will only accelerate as we turn our collective focus away from the pandemic towards our economic recovery. I also expect it to lead to a reversal of the drift away from town centres, as instead of wanting to distance ourselves from other people, we will be immersing ourselves in as many social and cultural activities as we can.
Together, it all adds up to one of the best periods in recent memory to buy, rent or sell. So, if you’re one of those thinking about making a move of some kind, why not pick up the phone and give us a call.
