Manchester’s Property Market


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Sell My House Quickly found another interesting article about properties in Manchester.

Is Manchester’s property market bouncing back?

Law firm Slater Heelis, estate agent Thornley Groves and developer Capital & Centric have seen a rise in enquires
The UK’s property market has taken a huge hit since the pandemic as many home buyers and sellers put plans to move on hold.

But two local businesses are now seeing the first signs of confidence returning to the sector with a surge in house purchase instructions and sale enquiries in recent weeks.

Law firm Slater Heelis, which has offices in Sale, Timperley and Manchester city centre, has seen enquiries return to almost pre-coronavirus levels in May following the almost complete shutdown of new enquiries in April.

The number of registered buyers has also doubled each week for the past three weeks, Thornley Groves said.

This has resulted in a 300 per cent increase, showing that lockdown has given buyers time to research the market, signalling a kickstart.

These firms think so…

Data for Greater Manchester from Rightmove shows that detail views for property are now back at the same level it was pre-lockdown, in early March and that both these levels of online views are 16 per cent higher than the same time last year.

“Buyers will typically view properties online multiple times, so the uplift in online views is an early indicator of increasing demand.

“The introduction of the highly speculated stamp duty holiday from the Government would stimulate the market and kick start sales in larger homes, in the North West, with stamp duty on a home worth £500,000 costing as much as £50,000,” Zara said.

The positive signs are welcome news for the sector which plays such a pivotal role in the nation’s economic activity. However, it is far from certain that the market has put the lockdown shock behind it entirely.

We found this article on BusinessLive. Kindly click the link to read the full story.

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