After being in lockdown, the property market is celebrating its new freedom with a housing market revival.
According to Zoopla, enquiries about properties for sale increased by 88% in the two weeks after the housing lockdown was lifted. This exceeded pre-restriction home buyer activity by 20%.
“The COVID crisis and 50-day lockdown have created an unexpected one-off boost to housing demand. Millions of UK households have spent a considerable amount of time in their homes over the lockdown period and missed out on hours of commuting. Many households are likely to have re-evaluated what they want from their home. This could well explain the scale of the demand returning to the market,” commented Richard Donnell, Director of Research & Insight at Zoopla.
Did your plans stall?
Zoopla’s monthly cities house price report revealed that 60% of the 2,000 homeowners it asked, had planned to move before the crisis hit and now want to resume their plans.
“Since the housing market re-opened, we have seen a flurry of enquiries from buyers. We have a strong pipeline of pending sales which started to move within the first hours of the market restarting,” said Nick Leeming, Chairman at property experts, Jackson-Stops.
Rightmove report that overall demand for property for sale is down 7% compared to this time last year – but is up by 120% compared to the final week before the lockdown was eased.
While the total available stock for sale is down 2.5% since before the lockdown, there have been almost 11,000 new sales listings since the first day of the market reopening. This is still 65% down on the same week last year but an improvement on the 90% during the lockdown.
Can you navigate an unpredictable housing market?
The problem for many homeowners wanting to sell their property in Basingstoke is the current unpredictably of the marketplace. The coronavirus hasn’t gone away, and many businesses are still not up and running.
It’s going to take a long time for our economy to recover from this. And if you need to sell your home fast that could be a problem. Once you find a buyer, it can still take many, many months for a sale to complete.
For some homeowners, this level of unpredictability is preventing them from putting their house on the market.
Why a cash sale could be the answer
If you want to avoid the whole marketing process, the agent’s fees and being stuck in a chain, a cash sale is a fast and simple alternative. It offers you a quick, predictable sale with none of the drama of buyers pulling out or trying to renegotiate on price.
We can research your property in Basingstoke, its surrounding area and local amenities and construct a competitive cash offer based on this information. The whole process gets underway very quickly.
As a result, you can start to make firm plans for the future and move forward with your life.
Would you like advice on selling your house for cash?
Sell Your House Quickly Basingstoke provides a professional, reliable and convenient solution to selling your home fast.
Please get in touch with Mark Lloyd at Sell My House Quickly Basingstoke if you have any questions, or you want to request a competitive cash offer to buy your property.
Call: 0800 465373
Text/Whats app: 07703 189658
Or simply complete the enquiry form and we will respond by return.