We’ve been back a little over a week, and have pretty much caught up with everything from lockdown. Almost. Certainly by the end of this coming week we’ll be sorted.
In practical terms we can now do everything we used to do pre-covid-19. Obviously with 2m distancing, masks and so much hand cleaning it’s a wonder we have any skin left. If you want a valuation or viewing but are concerned over covid risk get in touch and we’ll explain how we do things.
In terms of how the market is going to go from here, it’s a little too early to tell, but early signs are that it’s going to pretty much pick up where it left off in March. That’s for sales. For lettings it never slowed down, we were able to let everything we advertised immediately from video tours.
The types of industry that dominate the Cambridge economy – pharmaceuticals, healthcare, education, software and other high-tech-boffin stuff – are unlikely to see huge redundancies or income drops, perhaps even the opposite and whilst there is no doubt that confidence in the market, and money in general, will be hit there will always be a large proportion of people that *need* to move. Cambridge is good for that. If your job is moving here from California or leaving here to Copenhagen you won’t be commuting it. We think volumes will drop, which is bad for us, but we’re expecting the ratio of buyers to sellers to remain similar, which should be good for the market. We’re currently working on agreeing a number of sales from the last week’s viewings where we have a choice of 3 or more buyers and competitive offers.
Whisper it, as it feels a bit indulgent being positive with the current horrors, but we may even find our numerous medical firms get busier and employ more people from all this.
Anecdotally most people that we speak to aren’t changing their general plans to move and during the lockdown period our fall-through rate (houses that were sale agreed that fell through due to buyer or sellers changing their mind) was actually significantly lower than it usually is.
It’s all conjecture at the moment, but if the media has taught us anything over the last 2 months it’s that the great British public just can’t get enough of constant, unrelenting, soul-withering conjecture.
In more personal news, we’re all well here at CC&C, thanks for asking. Some of us are working at home, some from the office and some yet to return to work but none of us is any more poorly than we usually are. We hope the same applies to you and yours.