For many homeowners waiting for the right time to move, it has been a difficult decision to make for the past few years. The property market in the UK has been subject to an onslaught of market slowing events with what feels like endless elections, the EU referendum, changes to stamp duty land tax, and then this year to top it all off, the world was pretty much shut down by a coronavirus pandemic from COVID-19.

As soon as the property market was put on pause, the headlines wrote themselves, and the media reported that the property market apocalypse was approaching… but it never arrived.

Then, as the property market opened again, we were warned about how tough it was going to be to sell our properties, so was this prediction right?

Let’s take a look at what the data tells us…

The below graph is taken from Rightmove data for the KT7, KT8 and KT10 postcodes which covers Thames Ditton, East and West Molesey, Hinchley Wood, Claygate and Esher (where Newton Huxley sell the most properties).

The local property market was showing very positive signs at the beginning of the year throughout January and into February, with the number of New Listings and Sales Agreed at healthy levels as you would expect to see. Then things began to turn in March as COVID-19 became the focus of everyone’s attention, and finally in April the market stopped almost entirely as viewings and mortgage applications were no longer possible.

In May, we can see the tide beginning to turn with urgent moves progressing and then in June we can finally begin to see what the property market looks like post lockdown… and so far it looks very good!

New property listings are quickly returning to pre-covid levels and as these properties attract the wave of new buyers from Central and South West London, we expect the number of sales agreed to catch up in July.

Our own internal data also shows positive signs for the local property market, with the number of offers received in June being at its highest level since October 2017.

This next graph shows the number of new buyers registering (people calling to ask us to help with their search for a property,) viewings booked, and the number of individual offers received on our listed properties.

Whilst it is too early to know for sure what the long-term impacts of COVID-19 will be on the property market, property transactions in the South East have been stunted since Stamp Duty Land Tax was changed in 2016 (by as much as 30% in our local area), and a bottleneck of buyers waiting for the right time to make their move has been building ever since.

Now interest rates are lower than ever before, and we’ve experienced a genuine public health issue that has had an impact on every single person one way or another. For many this has put things into perspective, and has served as a catalyst to further increase buyer migration out of Central and South West London, with some 51% of buyers that already live in the capital looking to move out.

With so many properties coming to market right now, and with lenders tightening criteria for mortgages, it is unlikely your property value will be shooting up any time soon. Many market reports are suggesting a 0% change in property values this year, and a modest 2% next year. So, if you have been waiting for the right time to move over the last few years like so many others in the KT7, KT8 and KT10 postcode areas, now is the closest you are going to get to the perfect time to finally get moving!

CLICK HERE To book a free valuation and market appraisal with one of the partner directors at Newton Huxley

Since the government re-opened the property market in April, buyers and tenants have been queuing up to view properties at a rate we have never experienced before. Now is a brilliant time to move with low interest rates and plenty of choice out there, but we still need to do it safely and responsibly to make sure we do not put ourselves or others at risk.

Here are 10 things you need to know about viewing properties safely:

1. Initial viewings should be done virtually wherever this is possible and property agents should help you to do this: Our team have been busy preparing video walk throughs on all of our properties wherever possible, this is also a great way to ensure you do not waste your time viewing properties that aren’t suited to your needs.
2. All physical viewings should be limited to members of the same household and open house viewings should not take place: Hopefully this is an obvious one! If an agent invites you to an open house, you will find it nearly impossible to maintain a safe social distance so you should be viewing on your own with the agent or homeowner, and ideally for a maximum of 15 minutes per viewing.
3. When physically viewing properties, where possible, you should avoid touching surfaces, wash your hands regularly, and bring your own hand sanitiser. The number of people on a viewing should be minimised to those from your household that absolutely have to be there. If you need to be accompanied by small children, you should try to keep them from touching surfaces and ensure they wash their hands regularly.
4. Clean surfaces and open all doors: If people are being shown around your current home, you should open all internal doors and ensure surfaces, such as door handles, are cleaned after each viewing with standard household cleaning products. You should also try to open windows to air out the property at least 30 minutes before the viewing takes place.
5. Vacate for viewings: We recommend this anyway to allow potential buyers or tenants to view and provide honest feedback without the risk of offending the current owner/occupier. At present we recommend that you vacate your property whilst viewings are taking place in order to minimise your contact with those not in your household.
6. Anyone involved in any aspect of the home moving process should practice social distancing in line with public health advice. This includes; viewers, surveyors, agents, removals, cleaners, inventory clerks, contractors and anyone else that wants to have access to your home!
7. When moving between properties, you and those in your household should try to do as much of the packing yourself as you can. Where this is not possible, you should speak to removal firms in advance.
8. If you are particularly worried about the risk of infection, then speak to the professionals involved: your landlord, estate agent or removers may be able to put in place extra measures to accommodate your needs.