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Grampa

Properties are flying off the shelves

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The property sales market has gone mad. I haven’t seen anything like it for years.

Numerous valuation requests, properties being sold within 24hrs or even before going live with one phone call. More offers than usual for the full asking price.

We even sold a property for 25k over the asking price with a bun fight between buyers competing and upping their offers and this was after competing with 2 other local agents to get the instruction in the first place and our valuation was still 30k higher than the other two.

The big question is --- How long will it last??????

 

 

 

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That's easy........it'll last until we get the 2nd wave of CV19 and everyone will be back in lockdown. I reckon that'll be before the end of October.......so you might have about 3 months max.

I was accused of being to optimistic and upbeat earlier today !

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I agree with RL.  Short lived.  What I do know is that investors are piling into the cheaper properties around here and my Daughter would confirm that by the number of enquiries and sales. Lots of telephone enquiries out of the area as well. 

Just for the record here are some guide prices for my area for modern 2 bed houses.......the most in demand by investors.  2 bed terrace.......£165- £190k   2 bed semi or end of terrace around £200k. Price adjust for condition and parking, garage perhaps and precise location.  Flats can start as low as £75k- £140k depending on property details. 

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Yes agree the market is bouyant.  My Airbnb is 50% taken with people on viewings from London.  Seems some can't wait to get out of the place!   I expect homeworking  has encouraged this - why live in the city when you can do the job from the coast and live a better lifestyle?

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