Property Market Lockdown ' The End Of The Beginning Or The Beginning Of The End?

• Published date: 12 August 2020
• Subject Matter: Real Estate and Construction, Conveyancing, Real Estate
• Law Firm: Gilson Gray
• Author: Mr Julian Scott

With the slow easing of lockdown measures we could be forgiven for evoking Churchill. Confidence is returning as we start to venture out with some renewed confidence.

It's been fascinating to see just how quickly the housing market has gone from almost total shutdown in late March to enthusiastic recovery over the last few weeks. The last ten days has been our busiest of lockdown so far with clients gearing up for the lifting of restrictions today (29 June). Our diaries are full with viewings, offers and settlements which can all now be safely and successfully concluded.

Estate agents, mortgage brokers and surveyors are all experiencing the same release of pent up demand and referrals have been flooding in to our New Business Team. While not quite up to the levels we were seeing pre-lockdown we are definitely expecting a surge in the residential property market which will be great for sellers and buyers alike. The team at Gilson Gray have been active throughout lockdown. House prices have surprisingly not shown any signs of a major reduction over the last few months and we are still seeing properties in Edinburgh and Glasgow in particular selling for well over valuation.

From today we will see many more properties coming on the market as surveyors will be able to carry...