What's happening in the North West property market?

September 2020   |   Home Page   |   Back to articles
SO far we’ve had insights into the Midlands and the South West and South Wales regional property markets. In the third instalment we hear from our in-house North West valuer, Mark Keenan.

Since joining Property Perspective from the financial sector in 2014, Mark Keenan has valued hundreds of properties across the North West. He says the post-COVID market means that buyer and seller are in equally strong positions and incentives such as the removal of Stamp Duty and competitive mortgage rates are making the idea of moving extremely appealing. 

“The North West market is proving very resilient due to a number of factors, mainly the hunger of current homeowners to move into a property that is more suitable for their needs, perhaps with more space or a larger garden,” says Mark.

“It did take a little while for consumer confidence to bounce back immediately after lockdown – with some people’s thoughts focused on employment, health and the potential of a second wave. However, the Stamp Duty changes from the Government have had a huge beneficial impact and we are now seeing the market back to where it was, if not better.”

Mark says the main challenge he has faced post-lockdown is the lack of face to face communication with customers and colleagues. 

“We’ve always relied on and worked hard to build fantastic rapport with customers so because we’ve had to adapt how we work and do a lot of the process over the phone; it definitely feels different. Our results are still just as good as usual though and we’re selling homes within even less time than previously. In July, I sold one home within 48 hours of it being on the market.”

And Mark says what customers want from their next home has changed too. 

“We are seeing more homeowners working from home, which has resulted in a change of attitude from buyers and the size and layout of homes is now even more important. I’ve seen a rise in demand for properties with additional bedrooms or separate study areas, while demands for South-facing larger gardens has also increased with families tending to spend more time at home. With more people making the most of the great outdoors the demand for being located in a city centre seems less potent too.”

Housebuilders interested in knowing more about how Property Perspective can help to sell their customers’ homes through Part Exchange or Assisted Move can speak to our team today on 0161 929 3740 or email enquiries@thepropertyperspective.co.uk 

Those interesting in the wide range of second-hand properties we’re currently selling can search via our website: www.thepropertyperspective.co.uk 

 

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