Spring Market UpdatePosted on 24th April 2021 in News
It’s now been over a year since the beginning of the first lockdown, and June 29th will mark the anniversary of the reopening of the property market, when many Estate Agents came back to work and experienced some of the busiest months of their career. With so much time having now passed, people are wondering why the market is still so busy – we’ve taken a look at why that is for our Spring Market Update.
From March through to June in 2020, the property market – along with the rest of the world – ground to a startling halt, leaving many sales in limbo and many viewers without the chance to look for their dream home. Along with the viewers who were already looking, many people across the country realised during lockdown that it was time to move home meaning that the number of people looking for houses increased, all while no one was able to get their house on the market. For those whose homes were on the market, they simply had to wait for Government restrictions to be lifted.
When June came around, Estate Agents found that the number of viewers was greatly outweighing the number of properties on the market – and the market still hasn’t caught up with the demand. Even now as we prepare to enter May 2021, there are still far more viewers than properties coming to the market. The continually changing restrictions have made it difficult for many people to consider buying or selling, but for those who have sold recently, have benefitted greatly from the post-lockdown boom.
While no one can be certain when the housing market will return to normality, like the rest of the country, as COVID becomes more and more under control, we’re likely to see things go back to normal – however this likely won’t be an instant process and like everything else will take time. At Walker Wylie, we are focussed on ensuring buyers and sellers enjoy a seamless process for buying and selling and that they can do so as safely as possible.
If you have any questions regarding the housing market, as a local Glasgow Estate Agent, we would be delighted to offer any help and advice we can.