What's happening in the Midlands property market?

August 2020   |   Home Page   |   Back to articles
IN the second instalment of insights into regional property markets from our team of in-house valuers, we hear from our Midlands valuer, Mark Chasney.

With over 20 years’ experience in the industry, Mark Chasney says activity levels in his local new homes market are the same as, if not better than, they were pre-lockdown. 

During June and July this year, Property Perspective completed 92 more sales than the same period in 2019 and the demand from the Midlands market was a major contributor to that figure.

Mark says: “The Midlands market remains very resilient. We’re seeing really good quality buyers and sellers, who are strongly motivated to buy or sell. 

“With so much competition out there and still some restrictions on physical viewings, presentation is key; and I’m pleased to report that our sellers are presenting their homes brilliantly for online viewings.  It’s important to present an uncluttered environment, even more so now people may be working from home and have even more equipment and items taking up space.”

One of the challenges Mark is seeing in the current market is a lack of available properties to meet the demand from buyers: “This has had a knock-on effect and I’ve noticed over the last eight weeks or so that some agents are increasing asking prices. Whilst demand is as good as it is, this doesn’t necessarily mean that prices can become too opportunistic. People who are serious about moving should still price their home to sell.”   

‘The unique way we work has meant we’ve adapted well to challenging times’ 

Mark, who covers the wider Midlands area, including Cambridgeshire and parts of the Home Counties, believes that Property Perspective’s unique position of having regionally based valuers already set up to work remotely has meant business as usual: “We’ve been able to react in a timely manner to any Part Exchange or Agency Assist applications during the pandemic as well as continue to report to our clients and vendors as normal. We’ve adhered to all Covid precautions such as speaking in more detail to sellers over the phone before viewings to minimise time in the property and every client I have worked with has been fully understanding and respectful of the need to socially distance.”

As ever, Mark believes property should be viewed as a long-term investment, but the current Stamp Duty ‘holiday’ does make now a particularly good time to buy or sell; especially as buyers can potentially save thousands of pounds in tax that could be spent elsewhere in the home. 

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 interested 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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