Y T R E P O R P M? property
O O B r o DOOM Covid-19 Effect On The Housing Market by PROPERTY EXPERT Maximillian Z De Kment, CEO Lovett Estate Agents, Dorset Why Bournemouth And Poole Is The Place To Invest During Covid-19 by Maximillian Z De Kment, CEO Lovett Estate Agents, Dorset. There had been pent up demand due to the market pausing, firstly from the government putting up stamp duty from as little as 1% up to 12%. Then, the uncertainty of Brexit and then the General Election. All these factors resulted in the lower market exploding at the start of 2020. January and February saw record sales and prices rising dramatically at the bottom end of the market only then to be furloughed by the global pandemic lockdown. It is muted that more than ÂŁ30,000 will be wiped off the average value of a UK home by the coronavirus crisis as the property market is brought to a standstill and incomes fall, the Centre for Economics and Business Research (CEBR) has warned.
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Its economists predicted that prices will tumble by 13% by the end of 2020 as transactions dwindle and home buyers are hit by a deep recession. A slump that deep would push the average house price to the brink of falling below ÂŁ200,000. The CEBR warned that owners of rental properties and home owners in regions with the most vulnerable jobs markets will be the hardest hit
by the fallout of the coronavirus. However, Bournemouth and Poole derive most of their income from tourism which I believe will explode all be it later than normal in the year. People may be spread among cargo for social distancing on planes. If flying this summer meant sitting next to a crate full of nappies, would you do it?
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