Several factors at play currently I think

Firstly agree that the true impact of COVID will be delayed due to furloughing keeping people in jobs longer than would otherwise be the case.
Unemployment likely to jump over the next 6 months....this is never good for property values.
Why is the market rising? I think first time buyers have been caged up with mum and dad for 3 months and this has given them the push to buy.
Also people with existing properties that are too small have realised this during lockdown and are looking to get some extra space.
You’ve also got the inevitable relationship breakdowns.....
Personally I don’t think the market will slump as property is a tangible asset and one that investors feel comfortable with.
Equally I can’t see any rise in values as affordability is already near capacity before you add in increased unemployment ir economic decline.

Posted By: JoeyDeacon on June 29th 2020 at 16:22:23

Message Thread

Property market (Coronavirus) - ingi, Jun 29, 16:10:24
- interesting, I am a first time buyer currently looking, should I wait? (n/m) (Coronavirus) - Allen, Jun 29, 16:44:14
  - No, if you can jump on the wagon now then do it (n/m) (Coronavirus) - Jumbo1, Jun 29, 19:03:08
- Several factors at play currently I think (Coronavirus) - JoeyDeacon, Jun 29, 16:22:23
  - My mate owns an estate agent (Coronavirus) - Azteca, Jun 29, 17:06:00
    - Yep (Coronavirus) - Cardiff Canary, Jun 29, 21:16:29

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