Keep the faith- that’s the message from the managing director of Lawson estate agents as the property market continues to gather pace, following the relaxation of lockdown restrictions.
Darren Lawson said both branches of his Plymouth-based agency saw a flurry of activity in the first few days of business after the agency re-opened.
Much of that activity related to resolving transactions that were put on hold when the country first went into lockdown.
But Darren says there is also growing evidence of an appetite among buyers and sellers who are new to the market to forge ahead with their own moving aspirations.
“Clearly, it is going to take some time for confidence to fully return to the Plymouth property market, but initial signs are very positive,” said Darren.
“There is certainly evidence that, thus far, predictions of a large scale fall in property values appear a wide of the mark.
” It is also important to remember that over the long term the property market has shown itself to be a very robust and sustainable investment – and I am confident that won’t change.
Industry observers say it will take some time for the full impact of the Covid 19 heath crisis on the property market to be known.
But they point out that while transactions were lower than they would traditionally be through the Spring period, business is brisk as buyers and sellers make up for lost time.
Since the property industry got the Government green light to return to work, lenders have pushed the button on mortgage products and a number of house builders are offering attractive purchase deals on new homes.
“The Government’s furlough scheme and help for the self-employed, coupled with mortgage holidays, will certainly help alleviate financial pressures and could give the market another boost” added Darren
“One thing is certain, we are heading in the right direction and now it’s all about keeping the faith and maintaining momentum.”