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TODAY'S OTHER NEWS

Housing market back with a bang  after lockdown easing in England

Rightmove said visits to its website rose by 45% yesterday morning compared with a day earlier following the government’s decision to reopen the housing market as part of the easing of coronavirus lockdown restrictions.

Email enquiries to agents increased 70% and new listings also shot up with 2,115 new properties added in just five hours, the property website said.

Renters and buyers in England were given consent to move property again by the government on Tuesday, with many estate agents' offices reopening yesterday and renters and buyers allowed to view properties in person.

Rightmove’s housing market expert Miles Shipside commented: “These are clear signs that the news from the government has prompted more home-hunters to start looking for their next home, and we anticipate further uplift in activity once agents have time to adjust to the new social distancing guidance specific to the home moving sector.

“Home movers who have been eagerly waiting to take their home moving plans to the next stage should show some patience with agents given the unexpected announcement, to ensure there’s time to adapt to the new guidelines and ensure everyone is kept safe.”

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    Pent up demand will lead to higher rents and purchase prices for the best properties. Landlords will win out of this - just reward for all we have done and the risks we have taken. Sebastian will be so pleased for all of us!

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    I will be very pleased for you but, unfortunately, the people who know more about it than you and I (you know, those people who have professional qualifications such as RICS) seem to disagree with us but then, don't take my word for it - you'll be able to read all about it in the news tomorrow.

     
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    Robert (posting above) may well be right. But on the other hand, people who have lost their jobs - huge numbers - may no longer want to seek to rent property as they have no income to show. Existing renters who have lost their jobs may now have to give notice they are quitting to their landlords, as they will soon no longer be able to pay their rents, even after any rent 'holidays'. The 3 Ds - death, divorce, disease (all obviously much higher now) - may also result in current tenancies being discontinued. So there is no certainty in terms of higher rents for landlords.

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    David

    I did caveat my comment to be about the best properties in specific areas, price bands etc. which in my experience are the first to be taken. Inferior properties might have to reduce rents or purchase prices due to affordability issues.

     
  • Paul Barrett

    LL are continuing to sell up slowly.
    Few of the properties are being bought by LL or FTB.
    So a total loss that will maintain demand which can't be met and will increase rents etc.
    Supply and demand.
    There will always be someone who can afford the rent.
    Are all these tenants going to return to their childhood bedrooms as they won't qualify for social housing.
    Ilegal economic immigrants come well before them on the needs based criteria which is what they ALL are if they come via the EU to the UK.

    It is a shame this CV19 thing has happened as LL were progressively selling up..
    Not that it was noticeable.
    But a few years from now a marked reduction in the PRS would have occurred.
    This process looks likely to be fast tracked ad LL Bale as fast as they can.
    Far too risky with all this rent defaulting


    Simon D

     
  • Kristjan Byfield

    Far too early to tell- with visitors and enquiries severely suppressed (as anyone would expect) uplifts of those mentioned are a long way off 'normal'. Much of the traffic would have been agents seeing what competitors are up to. We have a long way to go before we know what the market and economy really looks like but a huge amount of businesses have already closed. Tenants are increasingly under pressure to meet rent demands and we are seeing a slow but constant escalation of tenants seeking deferments and, those that already have this, now coming back requesting discounts going forwards.

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    Forbes are you serious ,you really believe RICS knows more about the property market than us Professional LLs you are really a clueless stupid twit. Get in the real world and get off this site you are wasting our time by us having to read your absolute garbage you write you gormless thick dinlow. Repeat after me once again” I am a total prat of a twit and I must stop coming out with so much dribble and wasting peoples time for which I apologise” now keep repeating it until it sinks, go on start again “ I am a..............

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    Come on Steve, see the funny side and laugh at this idiot.

     
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    To lose one property, Mr. Sykes, may be regarded as a misfortune; to lose both looks like carelessness.

     
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    Forbes are you serious ,you really believe RICS knows more about the property market than us Professional LLs you are really a clueless stupid twit. Get in the real world and get off this site you are wasting our time by us having to read your absolute garbage you write you gormless thick dinlow. Repeat after me once again” I am a total prat of a twit and I must stop coming out with so much dribble and wasting peoples time for which I apologise” now keep repeating it until it sinks, go on start again “ I am a..............

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    The definition of stupidity is doing the same thing twice and expecting a different result the 2nd time around.

     
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    Forbes are you serious ,you really believe RICS knows more about the property market than us Professional LLs you are really a clueless stupid twit. Get in the real world and get off this site you are wasting our time by us having to read your absolute garbage you write you gormless thick dinlow. Repeat after me once again” I am a total prat of a twit and I must stop coming out with so much dribble and wasting peoples time for which I apologise” now keep repeating it until it sinks, go on start again “ I am a..............

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    Yeap, I keep throwing you back in, 'cos you don't come up to size, and you just keep on biting...

     
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    All countries suffer from the opinionated rot put out by, "Experts". They do untold damage so listen to them carefully, avoid their expertise and do something sensible. They do have a use!.

    Anyone in law, councils and media - especially the BBC are simply experts at either thieving your money or just guiding you to give it away.

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