The UK residential property market took its first steps back towards normality last week after the government allowed transactions to resume under social distancing rules. Global real estate consultant Knight Frank said that there are early signs of the market revival with the number of new prospective buyers increasing.
Knight Frank said data for the week ending 16 May showed that the number of new prospective buyers, registering with the agency, reached the highest level since the second week of March. Estate agents across the UK state agents had been unable to carry out physical viewings due to social distancing rules, which dramatically curbed sales volumes. However, buyers are gradually returning to the market showing interest in homes.
London-based Strawberry Star, an international property company, also experienced renewed interest among home buyers for new build homes. During the third week of May, days after the Government lifted the restrictions, the number of home buyers registering for viewings was higher than the corresponding period in March.
Homebuyers showed interest in new build properties in Luton, Wandsworth and West London, which will be available for occupancy later this year and 2021. Our London developments Bronze in Wandsworth and Greenview Court in Southall will be completed by year-end while phase 1 of multiple award-winning mixed-use development Lu2on in Luton will be completed in 2021.
Strawberry Star is strictly adhering to all the social distancing norms set by the government for property viewings and complying with all health and safety guidelines at the developments.
The property market took its first steps back towards normality last week after the government allowed transactions to resume under social distancing rules