You’d think that discussing these topics would not be in the best interest of estate agents, but we at Kings are all about transparency and providing the best possible service to our clients. That sometimes means talking about more negative topics to help us all prepare for issues such as economic downturns.
With the stamp duty holiday coming to an end in March, and the general downward trends of the economy, we predict, along with many others in our industry, that property values will start to fall next year.
Suki Kaur, founder and director of Kings Real Estate said: “The prices of properties rose last month quite substantially and they’re predicted to rise even more towards the end of 2020, according to the Royal Institution of Chartered Surveyors. It’s been shown that new home listings and new buyers have been increasing month after month, and this is reflected in our own records. But, as is the way of things, this is only going to last for so long.”
The current economic climate means that the property market is at risk once people start to avoid selling up their properties. Naturally, this means that an economic boom will follow this downturn, but until then, the number of sales and auctions will be reduced.
“Our experts are prepared for this period of uncertainty,” Suki said. “We are definitely cautious whilst heading into 2021, but we’re working harder than ever to ensure our clients are well looked after. Being transparent with those we work with is of the utmost importance to us and we are determined to find out the best times to buy and sell to suit your needs.”
Our team at Kings has over 30 years of experience in the property market and we’re extremely dedicated to making sure you get the best out of your property. Whether you’re looking to sell a property, buy a new home, or buy to let, contact us today and we will help to figure out the ideal time, price, and location for you.