The figures for the re-opened housing market suggests many people are keen to enter the property market. Buyers, vendors, landlords and tenants have all engaged with estate agents. At Hunters West Hampstead, we have been busy, which is in line with figures provided by Rightmove and Zoopla regarding housing market activity.
However, safety is paramount, and it would be easy if many people decide to hold off from making a move soon. There is so much uncertainty in the housing market, and life in general, that you couldn’t blame anyone for taking their time in deciding whether they should engage the market.
We believe video views and virtual tours have helped the market. These video options enable the sales or buying process to start, and in the long-term, this style of video content has a significant role to play in the housing market.
Physical viewings are vital when making a sizable commitment
However, we also believe that most buyers want to enjoy a physical viewing of a home before they make an offer. This stands to reason why you consider the sums of money involved with buying a home. Purchasing property represents the most significant commitment a person or family makes, so they should have as much information as possible before making an offer.
However, a recent study suggests a high proportion of vendors who are currently looking to sell their home are comfortable with physical viewings. 83% of respondents said they are more than happy for prospective buyers to attend their property and view their home.
Social distancing measures must be followed in housing market
This indicates how keen many people are to sell their home, but it also shows a level of trust in estate agents. At Hunters West Hampstead, we promise to run safe viewings which follow social distancing measures. As Hunters is a nationwide company, we belong to a network which is connecting buyers and vendors in significant numbers. We have followed the guidelines, asked people what support they need, and we are continually evolving what constitutes best practice for physical viewings during the COVID-19 pandemic.
If you do plan on allowing physical views or valuations to take place at your property, make sure you choose an estate agent, you can trust and rely on.
It is also important to point out some vendors are not impressed with the thought of carrying out physical viewings at this point. There is a group of vendors who are happy to wait until 2021 before they begin the sales process. Of this group, 8% is insisting on digital viewings only, which means there will be some vendors who don’t contemplate physical viewings.
Whether this impacts on a buyer’s decision to consider their home as opposed to another remains to be seen, but this is just one of the interesting features taking place in the housing market right now.
If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters West Hampstead today for all your housing and letting needs.