Property market

You'd think due to COVID-19 prices would be falling and activity low; however, up here everything is selling fast and prices are going up. What's going on?

I would hazard a guess and say the true COVID-19 effect has not become a reality as yet and stock is low [has been up here] with a late flurry of purchases [First Time Buyers] which is putting the demand up. In 3-6 months time, prices may come down once the reality of COVID-19 has set in.

Experts during Lockdown were saying it will be a buyers market and to offer well below the asking price or pull out. But it is the opposite up here at present.

Have you noticed an increase in your area? I think Norfolk being rural as it is will see a rise in property prices over the next few years due to people now being able to work from home and not needing to travel into the capital. I think London and commuter belts around the South-East will be affected quite badly.

Posted By: ingi on June 29th 2020 at 16:10:24

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