Berkley News & Blog

June 26, 2020

Property Demand Skyrockets at Berkley

Property demand skyrockets as the property market reopens following an easing on lockdown restrictions. At Berkley, we have had a surge in activity of properties coming onto the market, levels of viewings, number of offers and sales agreed, with some properties achieving above asking price. This increase is due to the pent-up demand of buyers who were thinking of putting their property onto the market after Brexit as well as having to wait further due to Covid-19. In addition, there are new buyers whose priorities have changed when house hunting. Studies from Rightmove now indicate an increased importance on outdoor space and a better home workspace for potential buyers. This is as a result of having to spend a lot more time in our houses whilst in lockdown, as well as a more flexible home-working environment for many buyers.

Large increase in detail views in Leicester as demand skyrockets

This graph from Rightmove shows that detail views plummeted throughout the Covid-19 pandemic. However, demand has increased significantly since the reopening of the property industry. Also, currently the detail views are much higher than the expected “normal range”.

Rightmove describe a ‘detail view’ as “being a measure of how many people click through to view a property’s full details. Home movers tend to research properties for a few weeks before they begin to send enquiries. Therefore, tracking the uplift in detail views is an early indicator of increasing demand”.

Factors are indicating a prosperous market

Over the past few weeks, we have seen a skyrocket in demand which has led to many factors that shows a prosperous property market. Some of these are:

  • CLIENT MATCHING! The property hasn’t even gone on the market and we have a client waiting who buys it before the property even goes live.
  • BEST AND FINALS! This is where we ask all buyers for their last and highest offers for a property in response to a bidding war.
  • HIGH ASKING PRICES! This month so far, we have achieved 98% of asking prices which is above the industry average. In addition, some sales have even achieved above the asking price.

Thinking Of Selling?

If you are thinking of selling, now is a great time to get your property on the market, so contact us today for a FREE valuation. Alternatively, CLICK HERE for an instant free online valuation! We have buyers currently looking for properties around Leicestershire, and your home might be perfect for them.

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