Property Viewings Are On The Rise

While we are not close to returning to normal, far from it, there is an acceptance that things are moving forward. Since the property market re-opened in May, there has been significant activity in the housing market.

While we are not close to returning to normal, far from it, there is an acceptance that things are moving forward. Since the property market re-opened in May, there has been significant activity in the housing market.

Also, when you consider the stamp duty holiday introduced in July, it shouldn’t come as a surprise to learn there is considerable activity in the property market. However, given the challenges we face, and expect to face, it is pleasing to find information which suggests things are moving positively in the property market.

At Ariston Property, we aim to provide a high standard of service across North London. No matter what your next move in the housing market is, we are here to ensure you make an informed decision.

Information provided by the property group Andrews for July 2020 suggests:

• Viewings rose by 29% compared to the previous months’ viewing figures

• Physical viewings increased by 45% in comparison with the previous month

• In July 2020, there was close to 6,000 viewings, which equates to around 200 viewings per day

• In April 2020, the average was 20 viewings per day

• There was a rise of 12% with respect to offers made and accepted by vendors in July 2020

• Instructions rose by 22% in July compared to June figures

David Westgate, is the Group Chief Executive at Andrews Property Group. David said; “What a difference four months makes. In April viewings and instructions across the industry fell off a cliff as the country was gripped by coronavirus and the Government asked us to stay at home. But the rebound has been swift as lockdown eased and the Chancellor’s stamp duty announcement at the start of July gave the market a timely boost.”

The stamp duty holiday is positive news for buyers, but it is also likely to be good news for vendors too. This is because the heightened level of demand for homes will provide vendors with confidence in selling their house.

David also said; “Buyers and sellers alike have shown renewed vigour in the past six weeks. With a lengthy window of opportunity to purchase before the stamp holiday comes to an end, we expect buyer activity to remain buoyant over the coming months. And we saw an immediate uplift in valuations and instructions since stamp duty was frozen, with sellers keen to take advantage of motivated buyers and more confidence to list thanks to stable house prices.”

There will be many challenges to overcome in the housing market, but at Ariston Property, we are on hand to assist you.

David Westgate also said; “It won’t be all plain sailing from here, but the Government has shown how important it sees a healthy and stable property market for the general wellbeing of the overall economy. And house prices have proven to be extremely resilient in the past when faced by strong economic headwinds, which suggests the market is well placed to cope with some potentially heavy bumps in the road ahead.”

We know these are challenging times, but if you have any questions about the local property market, please feel free to contact us. At Ariston Property, we aim to support the local community as best we can, and we look forward to assisting you in any way. Please feel free to contact us on 020 7272 9988.