Nick Churton of Mayfair Office reviews a topsy turvy year in the property market and looks ahead with optimism to 2021.
In the property market, 2021 will be a far cry from 2020. 2021 will be a time of renewal and fresh opportunities.
2020 started with a bang. Brexit had passed an enormous hurdle and the property market responded quickly - but by the end of March, nothing. We were in lockdown. The market ground to a socially distanced trickle and, frankly, many in the property industry wondered if they would survive. But by July we had no time to worry about all that because we had the surprise of our lives. Thousands upon thousands of people were fleeing the major metropolitan areas. They sought a quieter, healthier life in peaceful places with room to breathe, where the countryside or coast was beautiful and towns and villages were welcoming. They looked for locations like ours.
Suddenly we had never been busier, and there didn’t seem to be enough hours in the day. It has been an astonishing summer and autumn. Now things have settled down a bit. But there is still a tremendous job to do getting pipeline sales over the line before the stamp duty holiday comes to its announced end on 31st March.
But buying a property is not about a tax advantage. It is about new beginnings, about building a home for one’s self or family and it is about investing in the future.
With our outstanding National Health Service personnel and medical scientists putting us well on the road to Covid recovery, we can look forward to a bright and optimistic New Year. Even the Brexit trade talks will have come to one resolution or another. We believe that the property market in our region will remain active through next year with values continuing to rise. Buyers will carry on being attracted by our fantastic way of life, and opportunities will be many.
So we are looking ahead to an exciting 2021 and wish everyone, especially all our clients – old, new and future - a very happy, prosperous and extremely healthy New Year.