How Will Lifting Lockdown Shape The Property Market?

Posted on: 18 May 2021

How will lifting lockdown shape the property market?

As the UK government aims to reduce major restrictions on May 17th and all restrictions on June 21st, the UK property market will be looking to benefit from the pent-up demand built up over the last year. The relaxation of restrictions on international travel and a successful domestic vaccination programme, makes London an increasingly attractive place for students, professionals and tourists seeking accommodation.

 

The prospect of conducting or attending viewings was incredibly difficult due to safety challenges, combined with the difficulties of conducting viewings whilst many are working or studying from home. Due to this, from Christmas onwards we have seen relatively low property transactions – as we approach the removal of restrictions with a vaccinated population returning to school and work, Parkes Estates expects the market to be in full flow over the Easter Holidays with demand likely to exceed supply. We expect there to be a major resurgence in student accommodation in central London from the summer onwards, as the UK government aims to facilitate the process for domestic and international students through effective vaccination and testing programmes.

 

It is no secret many Londoners escaped the city to the country over lockdown. However, the end to restrictions on hospitality as indoor dining and entertainment return has led to short-term holiday lets seeing growth in demand within central London over recent days. London has always proven to be a tourist hotspot, but now it is domestic vacations in the limelight as the appeal of vibrant city life is re-igniting a holiday let surge.

 

An influx of international investors is also expected, supported by a cheap pound, price reductions on luxury real estate in prime London postcodes and clarification on the Brexit saga. Buyers and sellers should be preparing for the end of the quiet before the storm, as we are approaching a market with demand outstripping supply with astronomical levels of transactions and price reduction reversals.

 

Share:


Recent Articles

9 June 2021

Things To Do In London In June 2021!

The last year has undoubtedly been a tough one, we missed out on the gloriousness of summer last year and all the things we could have been doing. This year will be different! With lockdown seeming to come to an end, with vaccine numbers continuously rising- this surely does look like the summer...

18 May 2021

How Will Lifting Lockdown Shape The Property Market?

As the UK government aims to reduce major restrictions on May 17th and all restrictions on June 21st, the UK property market will be looking to benefit from the pent-up demand built up over the last year. The relaxation of restrictions on international travel and a successful domestic...

11 May 2021

5 Things To Do On Eid In London During Lockdown (2021)

The holy month of Ramadan is almost over; a month of fasting, prayer and reflection will soon be followed by Eid al-Fitr! And while current restrictions may mean it won’t be the same as most years, it doesn’t mean you can’t have an enjoyable day with your family and friends in...

Get a free valuation

Find out how much your property is worth