The first week of Estate Agents being allowed to conduct house viewings has been a real eye opener, with the level of buyer activity much higher than anticipated which hopefully bodes well for a quick bounce back in the house market.
No doubt there will be some readers who will think, well you would say that wouldn’t you, in the hope of pepping up the market, but I can counter any such thought with some hard facts and examples, so here are a few case notes from the first week back.
New House Eversley – Under offer in three days
This fine new home by Aspire was placed on the open market on Monday 18th May at a guide £1,125,000.
By Thursday 20th May a sale was agreed to a proceedable purchaser.
Country House Eversley – Emerging Buyer Interest around £2.0m. guide
We took this property to the market a few weeks before lockdown, so viewings went on hold during the lockdown period.
Yesterday we had multiple viewings at the house and two offers have already been submitted. This home is typical of the kind of property that will be sought after in the emerging market of house buyers leaving London and other major towns and cities for rural living.
Do you have a country house for sale? We have a waiting list of buyers looking right now.
Right now the short to medium term outlook is positive and the biggest demand is for rural / semi-rural properties in all price ranges, but especially in the £1.5m. to £6.0m. sector.
So if you live in a country house and are looking to sell, this summer could be the best time to go to market. If you would like a free and confidential market appraisal contact your nearest McCarthy Holden branch.
Fleet – On £750,000 guide
With marketing help by way of a vendor inspired video tour during lockdown, this stunning detached house has gone under offer.
Blue Triangle, Fleet – Exchanged on guide £1.5m.
In just over one acre in one of the most desirable roads in Fleet, this imposing property was built by the renowned local builder Pool & Son in the 1930’s.
As we said in last week’s market update, the prospect of house sales in the short to medium term is relatively easy to judge, because we are working with house buyers and sellers alike every day, so their motivations and the drivers of the market conditions are there for us to interpret.
House Viewing Protocols Working Well
The new way of conducting house viewings is going well, with strict social distancing protocols and excellent co-operation from vendors and purchasers alike.
Some of the social distancing protocols include the following.
• Only one viewer can be present at a time, no children will be allowed in a property (this is because avoiding the touching of surfaces is difficult with young children).
• The owner/tenant will leave property for the viewing.
• We will supply the viewer with disposable gloves and mask, subject to our supply allowing for this.
• The viewers will be allowed to walk around and asked not to touch anything.
• In order to maintain social distancing, the agent will not be able to enter every room with the viewer.
• When the viewing is completed, the agent will lock up the property and leave, then dispose of gloves and use hand sanitiser.
The House Market / Buyer Attitudes
We are impressed with the resilience of house buyers, who continue to remain upbeat about their moving plans. Furthermore, 95% of the sales arranged we had in place at the start of lockdown, continue to remain in place and in the past week many of those have moved forward to exchange and simultaneous completions..
Emerging Markets
In the last week there has been increasing signs of the biggest emerging market being driven by people wanting to leave London and other large cities or towns, to find a new home in a rural or village setting, yet remain within reasonable distance of London etc. That is a positive for the home owners we act for on the Hampshire / Surrey / Berkshire borders, especially those who live in property worth between £1.5m. and £6.0m. in our area of operation.
If you are selling a rural property, contact your nearest McCarthy Holden branch for a free and confidential property appraisal.
The Weeks Ahead
Simply making hay whilst the sun shines!
John Holden – Chairman
