June 26, 2020 1:55 pm
After the property market reopened on May 13th there has been a 137% surge in property sales between May 13th and June. With demand even lifted back up to pre lockdown levels, the property market has seen a 54% higher demand now than before the market was bought to a halt on March 27th.
What impact has it had on house prices?
Zoopla reported a 6% rise compared to June 2019 which is incredibly positive news for the property industry. Buying and selling activity has even risen across all pricing levels, with COVID-19 bringing a whole new group of potential buyers into the housing market the demand for larger spaces with more outdoor space, gardens and a better location.
A growing interest in the North West
Compared to other regions the north-west has seen a huge level of interest, with number of successful property sales in the region being just 0.9% lower than the figure registered at the beginning of March.
Richard Donnell, director of research and insight at Zoopla comments that buyers are now, more than ever willing to commute into the city. Life in Lockdown has changed many people’s priorities. Whilst living in the centre of the capital may have once been the desirable choice, the lack of outside space, as well as internal space, will have led many to rethink their current situations.
The demand for property is now higher than ever!
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This post was written by millerwp