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Coronavirus and UK Property Prices

After the UK general election in December 2019 the property market picked up. More properties came to market and property prices began to climb at the fastest rate in two years.

The average UK property price rose to £312,625 in February 2020, according to Rightmove.

Property market uncertainty

Now the market faces some uncertainty with the development of Coronavirus or Covid-19.

We do not know the full extent of what is to come with the virus. We do know, however, that those who are unable to work currently can ask for mortgage holidays. This means they can defer having to make monthly mortgage payments for a set period of time.

Currently it is business as normal for us.

Good news for property

Property prices are still currently holding and despite the mild panic we are still seeing enquiries on all our available properties. This is for both sales and lettings.

For now, it’s business as usual at Benwell Daykin estate agents.

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Benwell Daykin

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