What will become of the property market? I think it’s too early to say however, I expect there will be some initial turbulence, similar to what the stock markets are experiencing. But it will be short lived as the economy grows again quickly. Property is still in relatively short supply in the UK so has been a robust investment over the years.
There will always be a need to sell property. Individuals requiring urgent funds, businesses relinquishing assets, divorcing or separating couples, those relocating to other parts of the country or world for retirement or work or probate sales due to death. Therefore property sales will continue.
Right now, whilst in a national lockdown we aren’t allowed to view properties (and we can’t even organise photography), so all new sales will likely be on hold. However rules will be relaxed soon to facilitate some activity.
In the meantime some agents will offer desktop valuations or virtual valuations.
We’ve been using Homesearch for some time now. In our opinion they offer the most comprehensive desktop valuation data currently available in the UK.
Here are some examples of what you can expect inside your home report:
If you require a valuation, we can be much more accurate if you send us (via whatsapp) some current images of each room in your property. This will give an indication of how your property is presented.
As well as Homesearch, we also have data provided by Data Loft. It’s one of the UK’s largest providers of land registry sold price data to the Property Industry.
Using their data, we can find a property similar to your property that sold historically at any given date. We can then look at how much the market has changed since July 2012 when that very similar terraced house in SE15 3 sold. Data loft will show us the average price of a terraced house in July 2012 in SE15 3, and show the changing average sold price data until the latest land registry update in 2020. Like any data in property it’s not fool proof, rather, a good indicative metric to use.
Using both products and reviewing all historical and recent sold price data, I’d be confident of being able to provide an accurate current valuation for you.
Get in touch if you feel this would be useful to you.
Fish Need Water
07855 828 736