So, who would have thought that through a pandemic the property market would be booming?
Despite the difficulties and challenging times we have all faced, bereavements, working from home, self-isolation, the property market continued to thrive.
Our business had to adapt of course like all businesses, to initially conduct both valuations and viewings virtually through lockdown. As restrictions eased, we could return to face-to-face appointments and then the market really started to increase boosted by a pent-up demand from buyers.
Enquiries, viewings and sales figures went skyward. Levels of properties for sale started dwindling with demand increasing and inevitably prices started to rise. Demand was very much outstripping supply, and that trend continues today.
So, what will happen in the property market? What do we think the future holds? Almost an unanswerable question in many respects but we expect the property market still to stay strong, demand through the winter months continuing although inevitably it may slow over the Christmas period but if that pent up demand is still there moving into the Winter period it is likely that turning into the New Year we will see a strong property market moving forward into 2022 and if demand continues to outstrip supply then the prices inevitably will be pushed up further.
So how in this unique market do we value properties to consider all of these changing trends and demand?
Quite simply for us it is all about taking the time to both assess the comparable evidence including recent sales, reviewing square footage of the property, the demand that we have from buyers within that area and reviewing price indexing can also assist. Then factor in the combined experience of some 60 years plus between both our valuers, of property valuation around and across the Norwich and Norfolk area. This all helps us to offer a sensible nonsense and professional view of a property’s value.
If you want to know about the market, wish to have your property valued, or you are considering selling and what to know what to do first, then call us for more details on 01603 432000.
Find us at https://www.mortonreeves.co.uk/ on which we even have an online property valuation tool that will give you an approximate indication in 20 seconds for your property.
Courtesy of Morton Reeves – 31/08/2021