Market Trends Summer 2020

17th July 2020

The last few months have been very interesting for all of us. When lockdown was lifted we made the decision to delay reopening our branches to the 22nd May to ensure the safety of both our customers and our team by making sure that we had the correct procedures and PPE in place.

Since then things have been incredibly busy with a very steady increase in enquiries from potential buyers who have then moved swiftly to secure their new home. We're seeing multiple bids being made on some properties with lots of people wanting to view them, which is of course great news for anyone thinking of selling their home.

Initially when lockdown ended there was an inevitable lack of available properties as many sellers were understandably still being cautious about letting people into their homes. However, now that we're all adjusting to the 'new normal' more and more properties are coming onto the market every day covering a broad spectrum of prices.

Stamp Duty Holiday

On the day after the chancellor announced the stamp duty holiday Rightmove received an unprecedented 8.5million visits to its website. Rolled out to help get the property market moving again, the increase in the zero rate band from £125,000 to £500,000 is going to make a huge difference to a lot of people. First time buyers and those making their second move will all benefit greatly from this initiative, allowing them to save money or perhaps take advantage of the extra wriggle room in their budget and afford that dream home that would previously have been just out of reach.

Landlords and second-home buyers will also benefit, as will anyone who is waiting for a sale to go through as stamp duty isn't calculated and billed by solicitors until 'completion'.

If you're thinking of selling it's a great time to do it - your buyer will have no stamp duty to pay and depending on where you're moving you'll either benefit from a cut in the amount of stamp duty you'll need to budget for or even not have to pay any either. No matter what the amount, whether it pays for your legal fees or a nice new sofa, everyone can potentially benefit from the changes to stamp duty, but as it ends in March 2021 don't leave it too late or you'll miss out.

Paperwork

One effect of lockdown and the subsequent easing of measures is that it has caused a backlog with many solicitors still being very cautious and preferring wherever possible to exchange and complete on the same day. Some pre-lockdown sales are still waiting to go through, however those buying or selling an empty property or in a very small chain are moving ahead smoothly with little delay.

Lettings

Since we reopened our branches our Lettings team has been incredibly busy. Now that lockdown measures have been eased and business has been resumed the pick-up has been immense with so many people trying to move.

Mortgages

In a response to the economic implications of the coronavirus pandemic The Bank of England cut its base rate to 0.1% in March and it remains at this incredibly low level, which is great news for anyone with a Tracker Mortgage. 

Source: Bank of England https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate

Many lenders diverted their resources during lockdown and withdrew the vast majority of their deals with very little available over 60%LTV. Slowly but steadily lenders are returning to the mortgage market and as of the 14th July three major lenders are now offering 90% loan-to-value mortgages, meaning all you'll need is the 10% deposit.

Let's Get On With It

Overall with the stamp duty holiday and the return of mortgage deals it's a great time to move. The market is busy and if properties are priced sensibly they will sell. So, if it feels like the right point in your life to make that move, now's the time to do it.

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

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

    Dr Crichton The Ridgway

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

    Mr Pilgrim Lewes Road

  • Thank you. We found all the staff knowledgeable and really pleasant to deal with. 

    Ms Ansloos Lewes Road

  • Very, very happy we chose you, felt right from the start! Thank you!

    Miss Blackadder Coniston Court, Holland Road

  • Excellent customer service throughout. I will definitely recommend you, and use you again. Thank you.

    Ms Longley Kingsbury Street

  • Excellent service as always

    Mr Field Ringmer Road

  • The Woodingdean team were very friendly and approachable.

    Mrs Palmer Pitt Gardens

  • 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

  • Excellent communication and advice throughout. It felt very reassuring to be in good hands.

    Mrs Brooker Buller Road

  • Sharon was excellent, she kept us informed at all stages and was a really calming objective influence in the process.

    Ms Frederick Channel View Road

  • I found the service to be courteous, friendly and efficient.

    Mr Upton Buller Road

  • Exceptional service throughout the process - should we decide to sell in the future we wouldn't hesitate to use your agency. You're a cut above the...

    Ms Windels & Mr Barham Fiveways

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

    Mr & Mrs Sawyer Shaftesbury Road

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

    Ms Cianchetta Selhurst Road

  • Brilliant. Well done to Sharon and the Woodingdean team.

    Ms Curtis The Ridgway

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

    Mr Grundy Bishops Road

  • It was an amazing experience, everyone involved were fantastic. 

    Mr & Mrs Knight Woodingdean

  • Very professional service. Thank you!

    Miss New & Mr Jackson Buller Road

  • Please thank Paula at Lewes Road - Excellent service. 

    Mr & Mrs Nuthall Lewes Road

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

    Mrs Hammond Hove

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

    Ms Rees Ticehurst Road

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

    Mr Gibbs Lewes Road

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

    Mr & Mrs Penton Sycamore Close

  • Ben was particularly enthusiastic and helpful. Martin, Paula, Sam and Will are all hard workers.

    Ms Goodey Franklin Road

  • Best Estate Agents ever experienced - professional, approachable, competent and exemplary. 

    Mr & Mrs Guest Riley Road

  • A really good experience.

    Mr Tibble 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

  • Hugely impressed with Ben & his team.

    Mrs Mead Upper Lewes Road

  • I would recommend Maslen to anyone. 

    Mrs Tripp Woodingdean

  • An efficient, professional and friendly service. Helpful and a pleasure to do business with.

    Mr Beddington Brading Road

  • Excellent Service from start to finish.

    Mr T Mole Cromwell Road

  • Very thorough & very informative.

    Mr Michnowicz Waldegrave Road

  • Thanks David, all very professional.

    Mrs Flowers Foxdown Road

  • 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

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

    Ms A King Balfour Road

  • Compared to your rivals, your service was excellent

    Ms McGrigor Milner Road

  • Very helpful and patient team.

    Mrs Shea Selborne Place

  • Paul was absolutely brilliant. 

    Mrs Tasker Fiveways

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

    Mr McBlane Hove

  • Thank you Maslens, you were all excellent!

    Miss Jasper Taunton Road

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

    Mr Wells Bishops Road

  • Thanks for an excellent service. 

    Mr King Hove

  • We were very impressed with the Nick from start to finish. 

    Mr & Mrs Smith Lewes Road

  • Paula was absolutely amazing!

    Mr & Mrs MacKay Lewes Road

  • First class service from a first class team.

    Mr & Mrs English The Ridgway

  • 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

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

    Ms Gray Lewes Road

  • Good team. Straightforward. No nonsense.

    Mr Standing Newmarket Road

  • Very impressed with the efficient and friendly service, the staff were a pleasure to deal with. 

    Mr & Mrs Gill Lewes Road

  • Very pleased with the excellent service throughout. Professional, friendly, efficient and no hard sell. Achieved above asking price. Thank you!

    Mr Witten Lewes Road

  • Thank you for everything!

    Ms Tucker Willow Close

  • Fantastic service. By far the best agents we have ever used, I cannot recommend you highly enough.

    Mr Field Mafeking Road

  • Very impressed with the service. Sharon Wareham works tirelessly, very professionally and is always there for advice. 

    Miss Matthews Kipling Avenue

  • Sharon, Harvey and James were all excellent - very professional. Totally opposite to what I have experienced with other agents. Maslen have restore...

    Ms Lyons Woodingdean

  • Superb service as usual, I would always recommend you.

    Ms S Hike Blackthorn Close

  • 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

  • Nick and Paula are total stars! They were incredibly supportive and present throughout. Thank you!

    Miss O'Haire Hove

  • The sale was dealt with swiftly, professionally and successfully. Thank you Maslen!

    Mrs Lincoln Hove

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

    Mr Johnson Fiveways

  • The staff were very helpful, an excellent service. I would recommend you to others.

    Miss Hockly Fiveways

  • Very pleased with the service. Many thanks to Sharon and the boys!

    Mr Flynn Woodingdean

  • All the staff I dealt with were excellent. Sharon worked really hard to complete the sale.

    Mrs Bent Falmer Gardens

  • The team worked very hard over a long period to ensure my sale went through - excellent service!

    Mr Patrick Gladstone Terrace

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

    Ms Easterbrook Bear 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...

    Ms Warren Hove

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

    Mr & Mrs Walker Lewes Road

  • Many thanks to Nick. It was an easy process thanks to you! I'm extremely satisfied with how the sale went, great job.

    Ms Mayanobe Aymer Road

  • It was a long, drawn out process that the people at Maslen helped me through, without the impression that it was a chore. So extremely professional...

    Mr McLagan Lewes Road

  • Sharon was excellent - kept us well informed, thank you so much!

    Ms Waters Cowley Drive

  • Very impressive - professional and friendly, both Martin Timms and Paula Carter were excellent at keeping in contact with sensible advice based on...

    Mrs O'Connor Hove

  • You were amazingly helpful throughout - a real pillar of strength with a very difficult sale.

    Mrs Parkin Fiveways

  • Already recommended you! Thank you.

    Mr Edwards The Ridgway

  • Paula is amazing!

    Ms Aspnall Gladstone Place

  • Graham Griffin provided us, and continues to provide us, will all-round excellent advice. We trust his knowledge and expertise.

    Mr Blackmore & Ms O'Sullivan Financial Services

  • Our local office manager, Sharon Wareham was warm and friendly and kept us up to date at all times.

    Mr Hope The Brow

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

    Ms Greene Lewes Road

  • 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

  • A completely painless experience from start to finish. Thank you.

    Mr Woolven & Mrs Bessant-Woolven Lewes Road

  • I have bought and sold 7 properties, and this was the best experience of an estate agents services I have found.

    Mrs Shepherd Hertford Road

  • Best Agents in Brighton.

    Mrs Field Tarner Road

  • Quality advice about when and how to sell, which was spot on. Thank you.

    Miss Coleman Buller Road

  • Paul Wilkinson was extremely helpful and efficient. The only problem was the vendors solicitor and Paul warned me of this. A good transaction all r...

    Mr Lavender Fiveways

  • 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

  • As always, an excellent service. 

    Mr & Mrs Field Lewes 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

  • First class service. Friendly and professional.

    Mr Thorne The Avenue

  • Very pleased with the experience. I would definitely recommend you and use you again.

    Ms D Edmonds Horton Road

  • Sharon was amazing! She kept us up to date the whole way through the process. We cannot fault Sharon or the rest of her team. 

    Mr & Mrs Ashley Woodingdean

  • I wish we had used you to sell our property! Nice to meet honest people, who are genuinely interested in helping. Very pleased.

    Mrs Porter Taunton Road

  • Very good service and communication. Paula was excellent.

    Mr & Mrs Scarboro 1 Pevensey Road

  • Cannot express our appreciation enough of all the efforts made by the Woodingdean team - they were fantastic.

    Mr John Mogridge Woodingdean

  • Very comprehensive and professional. Nice people to work with and highly recommended. 

    Mr Alderton Ladysmith Road

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

    Ms Daly Woodingdean

See All »