Home Buyer Enquiries Surge in Early 2020-Then Covid Strikes-Then the “Business Bubble”.
On entering 2020 we expected to see higher levels of activity in the property market. A few months in, we thought it would be a good time to report on what we have seen so far.
There were extraordinary levels of activity, exceeding our expectations in January. Buyer activity in our Oxford offices surged to record levels as confidence in the market returned after Brexit. This was repeated again in February with a huge increase year on year and up again on the January figures. So, into March and April we went, expectations high, only to be bought back down to earth with Covid; producing the most damaging trading conditions in living memory. All thoughts of trading figures abolished and replaced by a genuine life or death emergency.
I am sure we were not alone in wondering what sort of market, if any, we would come back to when we could reopen our offices.
Well, astonishingly, coming out of lockdown we entered a new phase of unprecedented activity with a surge of sales due to the pent up demand bought on by the enforced pause in activity during the usually prime selling months of April and May.
We hope that as well as everyone staying fit and well, the property market will continue to move and new vendors will feel confident in coming to the market.