Thu 05 Nov 2020
House sales have exploded at Leamington's ehB Residential – with twice as many homes sold this October than in the same period last year.
Business levels are two and a half times greater than in October 2019, reflecting the surge in demand for family homes as people re-evaluate their priorities in the wake of coronavirus.
And there is no sign of a slowdown this month, as estate agencies are still open and operating in a Covid secure way during the new lockdown.
The past five months have seen the ehB team rushed off their feet to satisfy demand, with the stamp duty holiday putting added pressure on moving before the end of March 2021.
ehB Residential office manager Clive Thompson said: “Listings and interest have been going through the roof. We have sold so many houses over the past few months. We sold twice as many in October than we did in the same month in 2019. And because so many of those sales were at the higher end of the price bracket the overall value of those homes is actually two and a half times the cost of those we sold in October 2019.
“There has been huge rise in activity within the family market. Properties such as three and four bedroom semis from £375,000 to £550,000 have been very popular. And where we have also seen a lot of movement is with the higher end of the market. Houses between £750,000 and £1.4million have been top sellers.
“Lockdown made people think about what they wanted from their life and their house. They’ve done six or seven months home working and recognise that even after the pandemic is over they’re not going to go back to commuting five days a week, 48 weeks a year. People will end up doing a mixture of home working and being in the office. This has accentuated their need for living space and for a study or studies.
“The pressure for family homes has been phenomenal. If people aren’t commuting, they’ve redeemed some time which can be spent on being perhaps more rural or living in Leamington rather than London or having more time to do a house up. Reduced travel costs means they may have more money to spend on their house.”
Clive is anticipating an equally busy November, despite it being traditionally a quieter time of year.
The new lockdown doesn’t affect moving house and all estate agency related activities are continuing as normal, including conveyancing, surveys and key handovers, which are all carried out in a Covid secure manner.
“If people want to move before the stamp duty holiday deadline at the end of March, they will need to get their skates on and list their houses within the next few weeks. We’re braced for another busy month.”
- ehB Residential office manager Clive Thompson says sales doubled in October, with the overall value of properties sold rising by two and half times compared with the same month last year
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