How is your local property market recovering post-lockdown?

In this 2-minute read we take a look at Jacobs Steel's internal data pre and post-lockdown in order to understand how the local property market has changed since restrictions were lifted.

We have been a business in our community since 1984, and in our 36 years in business we have never experienced something like COVID-19. We listened attentively to our government throughout and continued to do what we could to keep momentum in our local property market during lockdown. 

It was then announced, unexpectedly, on 13 May 2020 that estate agencies could re-open and home-movers could begin viewing properties. That was just two short weeks ago, but we have experienced a surge in activity and the future looks bright for East and West Sussex.

 

 

Surge in enquiries

Whilst the letting side of our business began to bounce back around 2 weeks prior to restrictions being lifted, it's only since we re-opened our offices that buyer enquiries have soared by an incredible 409%.

Our enquiry levels are now only a short way from where they were at the beginning of 2020, which is incredible considering what our country has experienced over the last few months.

 

Phenomenal rise in valuations

With demand on the rise it's fantastic to see that a similar amount of homeowners are thinking of selling; understandable when you've just spent the last 3 months at home!

Properties coming to the market are up across the sales and lettings side of our business, from West Worthing to Shoreham-by-Sea. A good influx of property to the market will keep up with demand will mean property prices remain steady; although if demand begins to outweigh supply, we could see further increases in property prices as we have over the past few years.

 

Immense rise in viewings booked

Our sales consultants have certainly been up against it these last two weeks. In line with the increase in enquiries and property stock, the number of viewings our team have booked have soared drastically.

Despite adopting technology to conduct online viewings throughout lockdown, our figures show that buyers are definitely more comfortable viewing a property in person. There are still those, however, that are acting with caution and viewing online, so we will continue to offer this service.

 

Viewings are turning in to offers

Sometimes, during a boom, there can be a lack of activity when it comes to people actually making offers; but that's not what we're seeing at the moment.

The number of offers being made has risen nicely in line with the number of viewings that are actually taking place. That means people are confident in our local property market and have a real desire to move. This mindset of buyers and tenants is great for homeowners and landlords alike, as it means there are less unnecessary viewings taking place.

 

Keeping you safe

Our staff and customers' safety is our number one priority. We have put in place all of the governments guidance, and more, which you can see here. 

If you are considering moving home but would like to discuss the health and safety precautions in more depth, please contact us and we will talk through everything with you.

Our FREE moving guide details all of the procedures we have in place and how the home-moving process has been affected by COVID-19.

Download your guide

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Property Ombudsman
NAEA
BEAG Sales Highly Rated 2019
A and W Business Awards Logo - Hightly Commended 2019
BEAG Sales Highly Rated 2019

Worthing
54 Chapel Road
Worthing
BN11 1BE

01903 206000

West Worthing
4 Wallace Parade
Goring Road
Worthing
BN12 4AL

01903 506080

Hove
190 Portland Road
Hove
East Sussex
BN3 5QN

01273 956690

Findon
228 Findon Road
Worthing
BN14 0EJ

01903 873999

Lancing
28 North Road
Lancing
BN15 9AB

01903 750335

Shoreham
31 Brunswick Road
Shoreham-by-Sea
BN43 5WA

01273 441341

Lettings
2 Broadwater Boulevard
Worthing
BN14 8JE

01903 506040

Land & New Homes
54 Chapel Road
Worthing
BN11 1BE

01903 792177

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