Significant demand for all property & moves to rural locations

Thursday, 20 August 2020

Significant demand for all property and in particular for moves to rural locations

Significant demand for all property and a move to rural locations are the headlines from the recent Rightmove property sales statistics.

Recent statistics released from Rightmove make exceptional reading for those both looking for a new home and those selling their property. Our region is faring particularly favourably as the exodus from city living to rural locations is at an all time high.

Of the move to rural locations, Rightmove’s property expert Miles Shipside said: “The lure of a new lifestyle, one that is quieter and has an abundance of beautiful countryside and more outdoor space, has led to more city dwellers choosing to become rural residents. We saw a shift as early as April in more people living in cities enquiring about moving out of that city, and this trend has continued. The most popular village moves are still within the same region the home-hunters are currently in, as it’s likely they’ll keep their current job but may have the flexibility to commute less often and set up their working space at home.”

Demand Increased by 51% Year on Year

The number of people looking for property over the past 4 weeks is 51% up on the same period in 2019, and at a volume not seen since 2008. With the stamp duty holiday confirmed until March 2021 and the re-assessment of priorities following the lockdown period, it is certainly a time to act if you are considering a move.

Across our network, we have seen a record number of new instructions, sales agreed and activity in recent weeks. We are delighted to be able to support so many clients through their house move. Of course, with increased listings and record levels of sales agreed in recent weeks, our communication with mortgage lenders, solicitors and surveyors has also increased as has their volume of cases.

Rightmove Commentary on Demand for Property

To this end, Miles Shiplake comments: “ Not only are we seeing an unusually busy summer period, but also parts of the lending and legal sectors are having to cope with capacity constraints, as some staff will still be on furlough while many will still be working from home. Patience will be required, especially with some lenders limiting their product ranges due to capacity constraints in their ability to process mortgages. To minimise the risk of missing the 31st March stamp duty deadline it’s best to plan well ahead. This busy pace of the market looks set to continue in the short term.”

Considering a Move?

If you are considering selling your property, please contact one of our teams for a no-obligation consultation. We are following strict social distancing guidelines and Government protocols for valuations and viewings and can share our policy with you ahead of any face-to-face discussions.