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Is now a good time to buy and sell in Birmingham?

Millions of you have started home-hunting again since the government eased certain lockdown restrictions in England.

What are the headline figures?

The first thing to note is that the re-opening of the market has released lots of pent-up demand, meaning that many people are now pressing ahead with their plans to move.

Specifically, we have seen that:

  • Huge numbers are visiting our website and putting through enquiries for new homes.
  • On our busiest day this year was, 3rd June, we saw an 10% rise in this activity compared with the same day last year.
  • Large volume of valuation enquiries of people wanting to sell and move. We took 24 enquiries on Thursday alone.
  • Over a quarter of people who were not planning a move before lockdown are now entering the market
  • Majority of our enquiries are from people aged 27 – 44 looking to buy or rent houses with gardens.
  • A spike in probate instructions.
  • Buy to let investors switching agents and reducing their expectations on rents achievable.
  • How much deposit I need to pay for a property in Birmingham?

    What does our expert say?

    Property expert Bobby Singh, one of the co-founders, explained that the market has seen a late spring boost as a result of certain restrictions being eased.

    “We are delighted to be busy. There is an extra level of activity in the Midlands housing market. The challenge our agents are facing is handling this surge in enquiries, having a process to deliver virtual viewings, and setting up socially distanced and safe physical viewings. I am cautiously confident about the market as a whole. We are still waiting to see what happens in the next couple of months, but the signs are that it is a strong market – it is looking quite promising. We are having a lot of enquiries from both potential vendors and buyers alike. We are still experiencing pent up release and need to see what happens in the future. A lot of people are coming back to us who had their houses valued in December and January asking up to get it on the market. Areas with beautiful scenery and a potentially quieter life are proving to be popular as home-movers’ priorities start to shift, and outside space becomes more important.”

    How much deposit I need to pay for a property in Birmingham?

    What do our teams say ?

    Guy Vaughan (Head of Sales), said: “We have continued to remain busy during the Covid period. We have furloughed some staff, but other areas, particularly valuations and management have been working full time. Viewings obviously have been difficult because we haven’t been able to do them, but we have still been able to complete a number of transactions during the Covid period. We’ve brought most of our staff back to manage the demand we’ve been seeing over the past two weeks. It’s taking longer for viewings now to make sure we’re following the correct social distancing measures so this is adding to how busy we are. We have set out a policy for our staff and clients in terms of viewings, inspections and general protocols. We have reviewed the operation of our offices which may at times involve some home working for certain members of staff.”

    Sukhi Chall (Branch Manager) said: “We launched a property in Edgbaston this week and which received a great deal of interest. Resulting in over 30 parties being booked in and and several offers being received over the phone from as far as Hong Kong and Australia. We’ve found that anything priced realistically will sell fast and often over the asking price in certain postcodes. I’ve been speaking to a many people who are considering moving further out of cities now that they can work from home more often, so we’ll have to wait to see if this is a short-term trend or a start of a change in buyer behaviour.”

    How much deposit I need to pay for a property in Birmingham?

    Love Your Postcode® has become one of the top estate & lettings agents because of how our group pays attention to each client. With us, you’re guaranteed a trusted partner that knows about prices variations in your area better than anyone else. Why not try a discrete off market sale on our Performance& channel. No strings attached. No small print. No digital footprint. We have pre-qualified buyers waiting.

    Unsure of what to do with your property and want to talk through your situation? Book an appointment with one of our local area experts. Or call us on 0800 862 0870.

    Is now a good time to buy and sell in Birmingham?
    By Asif Kola