Once lockdown measures are relaxed, which some believe could happen in late May or June, a spurt of activity could push the traditional July peak back to August, September or later. This means that there is plenty of time to become a letting agent, or open a new estate agent.
“The traditional August exodus is going to disappear this year,” said James Clarke, Knight Frank’s head of London sales. “A lot of the completions that traditionally take place in the summer will be pushed back into the third quarter of 2020,” he adds, noting that the potential for curbs on international travel may add to this effect.
“We’re preparing for a busier late summer period than normal,” says Gary Hall, head of lettings at Knight Frank. “The nature of the lettings market means it could explode quite quickly once restrictions are relaxed or lifted.”
David Mumby, Knight Frank’s head of central London lettings, agrees. “There’s no sense of a permanent withdrawal, no lack of demand. There’s a finite amount of stock available in the capital and both tenants and landlords are aware that if they don’t move quickly, they will miss out.”
Meanwhile, outside the capital, where seasonal buying patterns are more entrenched, there is a similar belief that 2020 could prove to be an exception.
“If we’re up and trading by the summer then we will have a prolonged market,” says Edward Rook, head of Knight Frank’s Country Department. “However, if this re-opening only happens later in the year, sales are more likely to be deferred until 2021.”
Now is therefore a great time to start a letting or estate agency – prepare now, carry out the steps we show you in our well-proven Business Package and launch in time to get take advantage of the surge in property activity expected in June – August.
See start up options: https://southcourtproperty.co.uk/start-up/how-to-order-eala/
Any questions, phone 0203 397 0070 or email firstname.lastname@example.org