Is the lure of the beer garden affecting the property market?
The coronavirus pandemic has certainly affected consumer priorities in a myriad of ways and this has been particularly demonstrated in the property market.
Property agents are reporting a record year with unprecedented levels of demand and allied professions, including moving companies, also experiencing far greater demand for their services and expertise.
Last week saw the easing of some of the lockdown restrictions with non-essential retail re-opening, and outdoor drinking and dining permitted at pubs and restaurants. It’s been reported that the easing of the restrictions has quelled the demand for estate agency services slightly during the w/c 12 April, perhaps now that there are a few more distractions. “School holidays and warming temperatures topped with beautiful spring weather saw many potential home movers choose a sunny beer garden to meet friends or family over an estate agent in the past week, so no surprises there,” said Andy Soloman, Yomdel Founder & CEO.
Overall, the property market activity remains well above average as does demand for removal companies. Burke Bros Moving Group have seen traffic to their website increased by 51% compared to the comparative ‘normality’ of the same week in 2019.
Notably, visits to the Burke Bros website have increased by 59% between w/c 5 April 2021, before the restrictions were eased, and w/c 12 April 2021. Meanwhile the number of properties sold subject to contract has increased by 18% between these two weeks (source: TwentyCi).
So, the lure of the pub beer garden hasn’t quite sought to dampen the demand for removals and there are still high levels of transactions in the pipeline. The exact twists and turns of the property market will take over the coming months, as lockdown restrictions are eased further and the stamp duty holiday comes to an end, are still unknown though.