UK property market and covid pandemic

No time to read

Many factors have effects on the property market, not only in the UK but internationally.
There are various reasons for market fluctuations. Employment, interest rates, political insecurity, war and unrest, to name a few.

Today, the main concern is the covid pandemic.
People are concerned about the long term, how long will lockdowns remain for, how secure are jobs, peoples age and how long will this epidemic last for.
Even with the introductions of various vaccines, what are the long terms effects and how safe are they. Income is a big consideration.

Properties are now viewed by virtual tours and even a physical inspection of a house requires precautions. Wearing of facial masks, keeping distance from others and sanitizing.

Parts of the UK property market have been less effected, such as London as it has historically been a city where many choose to live and being the capital, offers more business and social attractiveness .

That being said, other parts of the UK have suffered as a direct result of the pandemic. Business closures, bankruptcy and a slowdown in property sales.

Property values alter due to the political climate and reasons mentioned above.

Bricks and mortar have forever been a sound investment as it is a tangible asset and will long continue to be.

Investors see a unique opportunity of turning a disadvantage to an advantage.

Despite the present covid situation, property in the right location remains a safe long term secure investment.

The Land Registry is the most reliable source of information on statistics on the movement of property prices.

The UK property market continue to increase by 1.7% on a monthly basis and 4.7% compared between September 2019 to September 2020.
Rightmove index for November report a rise of 6.3% year on year.
Nationwide index has reported 5.8% annual price rise in October 2020.
Another source, namely, Halifax reported index of 7.55 increase annually in October 2020.
Even with the present covid pandemic, it is still possible to find attractive property deals and mortgage options.

Within Feod Group we have solicitors specializing in the UK property market, chartered surveyors, valuers and tax advisors.
Should you have an interest in the UK property market do not hesitate to contact us.

Article author

George Georghiou Managing Director
United Kingdom
George Georghiou graduated from King’s College London University (UK) in 1979 obtaining LLB (Hons), following which worked in various firms of solicitors, specialising in property and contract. In the 80’s Mr. Georghiou opened his own real estate company in Kings Cross, dealing with acquisiti...
George Georghiou graduated from King’s College London University (UK) in 1979 obtaining LLB (Hons), following which worked in various firms of solicitors, specialising in property and contract. In the 80’s Mr. Georghiou opened his own real estate company in Kings Cross, dealing with acquisitions, property developments, sales, lettings and management. George Georghiou was awarded to the position of Member of the National Association of Estate Agents from 1994. Since 1999, Mr. Georghiou has been retained as a consultant by numerous property companies on investment and development. As of 2005 Mr. Georghiou joined Feod Group as Managing Partner. George Georghiou advises clients of Feod Group on:
  • investment in real estate around the world;
  • obtaining citizenship of the selected country for investment;
  • representing clients in commercial and government entities abroad;
  • business organisation and management abroad.
Speaks English, Greek.
read more
mail

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Our News
Company registration in the EU: Top countries in 2024

The European Union remains one of the most attractive regions for business worldwide. Access to […]

Property taxes in Europe in 2024. Countries with high and low property taxes

Real estate has always been and remains one of the most popular and profitable forms […]

Cyprus plans to adopt EU regulations on cryptocurrency by the end of 2024

By the end of 2024, Cyprus is set to adopt new regulations governing the cryptocurrency […]

New Query






    Ask a Question

    Укажите, пожалуйста, Ваши контактные данные и наши специалисты свяжутся с Вами в ближайшее время.






      Ваши данные под 100% защитой!

      Указывая свои контактные данные, вы даете согласие на обработку, хранение и использование своих персональных данных исключительно с целью надлежащего предоставления вам услуг компании.

      ×

      Please indicate your contact details and our specialists will contact you as soon as possible.






        Your data is under 100% protection!

        By providing your contact information, you give consent to the processing,
        storage and use of your personal data solely for the purpose of properly
        providing you with the services of the company.

        ×

        Отправить на email



          ×

          Send to email



            ×

            Укажите, пожалуйста, Ваши контактные данные и дату семинара, которая Вам удобна.





               

               

              ×

              Вкажіть, будь ласка, Ваші контактні дані та наші фахівці зв’яжуться з Вами найближчим часом.






                Ваші дані під 100% захистом!

                Вказуючи свої контактні дані, ви даєте згоду на обробку, зберігання і
                використання своїх персональних даних виключно з метою належного надання вам послуг компанії.

                ×