This week we saw a lifting of many restrictions in England. One of these was that the property market started back up again with estate agents being one of the first businesses to open following lockdown.
Here in Scotland that message is to ‘Stay Home’ but could we learn lessons from what will happen in England over the next few weeks?
The last few months have been very difficult for letting agents across the UK with a steep decline in completed tenancy applications but these figures have given property owners hope. The level of demand is vital to agents and we will have to adapt to a ‘new normal’ when it comes to marketing property to let. It is predicted that over the next few weeks we will see a significant rebound for the market in England once restrictions on moving house are lifted further paving the way for how things could play out here in Scotland.
Many moves are on hold at present so we believe that demand is building up each week. Sales will be hit harder than lettings, as people delay getting their foot onto the property ladder and remain renting instead to see how the market is affected over the next six months.
Talk to us at Newton Letting if you would like advice, whether you’re a tenant seeking a property or a landlord looking to maximise your investment.