Market Trends Autumn 2020

12th October 2020


 Market Trends Autumn 2020

It's fair to say that the property market has been extremely busy since lockdown measures were lifted. Lockdown made its mark in many different ways on the whole of society and gave many of us time to reflect not just on where but also how we live. So it was inevitable that during the weeks when the whole market was forced to close that a pent-up demand for a new home and a fresh start would result in a mini-boom.

Stamp Duty

On top of the usual reasons for wanting to move, such as starting a family or relocating for a new job, two main factors have been behind the surge. The Stamp Duty holiday has of course meant that the idea of moving or becoming a first time buyer has become far more affordable and at the time of writing it's reported that UK homebuyers have already saved an astounding £108m. No matter where you are on the property ladder there are savings to be made, as long as you exchange and complete before the deadline. Our handy calculator can help you to work out just how much difference it could make to you.

Gardens and Home Offices

The other main factor that we've especially noticed here in Brighton and Hove is that time spent at home during lockdown has given people a huge opportunity to re-evaluate their lives with many deciding to move away from London and its suburbs to greener and coastal locations where they can have some outside space to call their own.

House Prices

Although the market is supremely active at the moment, the other thing that stands out is the fact that enquiries are coming in fairly equal amounts from both buyers and sellers. This is unusual but it does mean that on the whole prices are being kept in check.

Mortgages


Source Statista/ Bank of England

When it comes to mortgages, the rates remain very attractive and the good news is that more lenders have come back into the market with new deals. Mortgage approvals reached their highest rate for 13 years in August, and although the government's announcement of introducing 95% LTV mortgages to help young people become first time buyers is both interesting and encouraging we'll need to wait and see how they plan to achieve this.

Bottlenecks and Backlogs

The one side effect this surge in activity has had is the unforeseen delays in progressing sales through to completion. Sales are being agreed at a high volume and faster rate than usual resulting in a backlog of work for solicitors, surveyors and lenders, some of whom are only just returning to work from furlough.

With some mortgage valuers and surveyors not being able to visit a property for 3/4 weeks, an inevitable bottleneck is occurring meaning that it is taking longer than usual for estate agents to be able to hand over the keys.

Lettings

The uptick in activity is echoed in the rental sector, and our Lettings team remains exceptionally busy. Rents remain stable, and in the same way that people are looking to buy new homes tenants are also looking to change their lifestyles, relocate and move to properties with gardens and work from home space.

Relocating

The time for reflection that lockdown gave us has impacted on each level of the property market. Over the past few months the level of enquiries from people looking to relocate from London has noticeably grown, whilst at the same time many of our local clients looking to sell their homes are hoping to move to even more greener and perhaps more tranquil parts of the country such as the market towns and villages of the Cotswolds, Cornwall and Devon.

All in all, if you're thinking of moving, now is still a great time to do it and if you're quick there's a great chance that you can still benefit from the Stamp Duty holiday. For a free and confidential valuation contact us now and if you'd like independent advice on your mortgage options email Stuart for an informal chat - let us help you move on with your life.

 



Testimonials

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    Mr Upton Buller Road

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    Ms Curtis The Ridgway

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    Ms Ansloos Lewes Road

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    Mrs Parkin Fiveways

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    Miss Hockly Fiveways

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    Mr & Mrs Ashley Woodingdean

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    Mr Standing Newmarket Road

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    Mrs Shea Selborne Place

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    Mr T Mole Cromwell Road

  • Service exceeded my expectations overall at all stages of the process - I wouldn't hesitate to recommend you. Thanks. 

    Ms Greene Lewes Road

  • Thanks David, all very professional.

    Mrs Flowers Foxdown Road

  • Great service, always polite and friendly. Excellent contact and info all the way.

    Mr Wells Bishops Road

  • As always, an excellent service. 

    Mr & Mrs Field Lewes Road

  • A really good experience.

    Mr Tibble Lewes Road

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    Mrs Porter Taunton Road

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    Ms Mayanobe Aymer Road

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    Mr Patrick Gladstone Terrace

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    Mrs Tripp Woodingdean

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    Mr Thorne The Avenue

  • All agents at Maslen were extremely helpful and polite from the beginning to the completion of sale. 

    Mr Johnson Fiveways

  • Best Agents in Brighton.

    Mrs Field Tarner Road

  • Thank you Paul and Archie, you gave an excellent service, as well as Kelly. I look forward to working with you again. 

    Mr White Fiveways

  • Outstanding service from Sharon. James is an asset to Maslens & Harvey was so helpful and polite.

    Ms Cianchetta Selhurst Road

  • We were delighted with the service received from all the staff with whom we had contact,

    Dr Crichton The Ridgway

  • A good team at Woodingdean helped us through a stressful time.

    Mr & Mrs Penton Sycamore Close

  • Paula's role was brilliant. Having someone office based and available was so appreciated and her promptness an impressive service - every Estate Agent...

    Ms Wynn-Jones Baxter Street

  • The whole team were very committed from start to finish.

    Mr Pilgrim Lewes Road

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    Ms Waters Cowley Drive

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    Mr Woolven & Mrs Bessant-Woolven Lewes Road

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    Mr John Mogridge Woodingdean

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    Ms S Hike Blackthorn Close

  • All very professional, kept updated throughout. Very pleased - Would recommend. 

    Mrs Hammond Hove

  • Excellent service from the Lewes Road branch. Martin Timms secured a quick sale & at a good price & Paula Carter worked really hard to secure...

    Ms Schulte Bear Road

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    Ms Lyons Woodingdean

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    Mr Michnowicz Waldegrave Road

  • I was new to the area and viewed a lot of properties with a lot of different agents. Maslens were by far the best I came in contact with, so when i...

    Mr & Mrs Heer Lewes Road

  • From start to finish the sale was dealt with in a thoroughly professional manner.  

    Mr Gibbs Lewes Road

  • Maslens as a whole were really friendly and professional. I have to thank and congratulate Paula Carter for being superb at her job and exceeding m...

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    Ms Longley Kingsbury Street

  • Harvey was helpful and easily reachable at the beginning of the process and Sharon kept us informed and was always happy to help.

    Ms Murch & Ms Mapa Ticehurst Road

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    Ms Tucker Willow Close

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    Miss New & Mr Jackson Buller Road

  • Excellent service as always

    Mr Field Ringmer Road

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    Mr & Mrs Guest Riley Road

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    Mr Field Mafeking Road

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    Miss Matthews Kipling Avenue

  • A very positive experience - I had most contact with the Fiveways office and they were so friendly and helpful.

    Ms A King Balfour Road

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    Mr Hope The Brow

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    Mr Lavender Fiveways

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    Mr & Mrs MacKay Lewes Road

  • The whole team were excellent, each one of them felt like family. Sharon had a lot of sorting to do at times but coped very well, a true profession...

    Mr Vernon Woodingdean

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    Mr & Mrs Smith Lewes Road

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    Ms Windels & Mr Barham Fiveways

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    Mr Blackmore & Ms O'Sullivan Financial Services

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    Linda & Les Wigmore Close

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    Mrs Lincoln Hove

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    Mr & Mrs English The Ridgway

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    Ms Aspnall Gladstone Place

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    Mr & Mrs Knight Woodingdean

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    Mr McLagan Lewes Road

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    Mrs O'Connor Hove

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    Mrs Bent Falmer Gardens

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    Ms McGrigor Milner Road

  • Thanks for an excellent service. 

    Mr King Hove

  • Very impressed with all dealings with Maslen. Paula Carter was in particular very knowledgeable and helpful. 

    Mr McBlane Hove

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    Miss O'Haire Hove

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    Mr Alderton Ladysmith Road

  • Sold within 2 weeks for asking price "excellent!"

    Mr Grundy Bishops Road

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    Mr Flynn Woodingdean

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    Mr Witten Lewes Road

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    Mr & Mrs Gill Lewes Road

  • Extremely efficient. Nick and Paula are excellent. The weekly phone calls were much appreciated. 

    Ms Gray Lewes Road

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    Miss Blackadder Coniston Court, Holland Road

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    Mr & Mrs Scarboro 1 Pevensey Road

  • Very happy with the service we got from you guys, everyone we dealt with was extremely friendly, professional and helpful. Thanks!

    Mr Brown Titian Road

  • Please thank Paula at Lewes Road - Excellent service. 

    Mr & Mrs Nuthall Lewes Road

  • In February 2016 I was looking to buy and sell very rapidly. Competition among buyers at the time was very high. Sharon @ the Woodingdean branch sh...

    Ms Helen Lyons Woodingdean

  • A very committed team who made the sale process very easy.

    Ms Rees Ticehurst Road

  • Already recommended you! Thank you.

    Mr Edwards The Ridgway

  • Sharon and her team could not have done more in what was a difficult sale. 

    Ms Daly Woodingdean

  • Paul was absolutely brilliant. 

    Mrs Tasker Fiveways

  • Ben and Paula were calm and reassuring throughout a very difficult process!

    Ms Easterbrook Bear Road

  • We were very pleased with services provided by the Fiveways office.

    Mr & Mrs Sawyer Shaftesbury Road

  • Paula was fabulous and we felt really informed and supported. 

    Mr & Mrs Walker Lewes Road

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