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Thorntons: Property market boom shows no signs of stopping

                                                                                                                                       

INSIGHT – October 2020

A top property expert offers advice for buyers amidst a highly competitive market

Peter Ryder, Managing Director of the Estate Agency operation at Thorntons, is seeing property viewings at 175% above normal levels, with Thorntons selling 640 properties since the market reopened – a 25% increase on the same period last year.

Peter said: “There appears to be a huge number of buyers in the market which is helping push prices up due to the competition at closing dates. Many properties are still selling above the Home Report value with our properties selling around 5% above on average.

“Properties are still selling within days so my advice to buyers would be, don’t delay, if you are looking for a new home you will need to move quickly and you will be in a much stronger position if you have all your finances in place before making an offer.

“We’ve observed no sign of the market cooling down despite the uncertainty ahead the recession declared. Changes in Stamp Duty and the availability of government backed loans and shared equity schemes have helped maintain a healthy market.”

Some of Thorntons’ new procedures in Estate Agency include checking the health status of clients and people in their household before visits and advising on how to prepare their property for a viewing or property manager visit. This includes cleaning all door handles and main surfaces with disinfectant before and after a visit, and opening doors, cupboards, windows, garages, and outbuildings to reduce visitor contact.

Thorntons continues to recommend virtual viewings whenever possible which ensures only genuine prospective purchasers will visit a property. Viewings in person will be strictly by appointment only with limited people allowed in the property at one time, social distancing adhered to at all times and the wearing of PPE is essential.

Ms Waddell, who recently sold her house in Lundin Links with Thorntons, said: “As a family we have all been most impressed by Thorntons attentiveness and professionalism. We have nothing but the highest praise For Thorntons sales staff for all their help and support as we have gone through the marketing and selling process.”

     Peter Ryder, Managing Director of the Estate Agency operation at Thorntons

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