During these uncertain times relating to COVID-19, we are being asked a lot about how the property market will react.

Walton & Allen estate agents in Nottingham expect the following to happen over the coming weeks.

Property prices will not fall

We expect the property market to stall for a little while whilst we all self isolate and stay safe. We are still agreeing sales but obviously not as many as is expected for this time of year.

We do not expect to see a drop in property prices as a result of COVID-19. In fact, our experience shows that prices are still going up.

Online property views will increase

The majority of Nottinghamshire residents are currently sitting at home for most of the day and night. With not much else to do, they are likely to browse Rightmove, Zoopla and On The Market to find their new home or a new investment property.

The same happens on Boxing Day every year when families are staying in with little to do other than watch TV.

Sales will slow

We have suspended all in-person viewings until further notice. This is likely to be mid-April at the earliest. We are still conducting some video viewings where we can.

Less viewings means less sales, unfortunately. We are still actively pushing properties where we can but most buyers are unlikely to put an offer forward without seeing the home they want to buy first.

We are still agreeing sales

Despite everything that is happening in the world, we are still agreeing sales. We are still getting offers through over email on a daily basis and our inboxes are filling every day with enquiries.

Viewings are also being booked for April.

Now is still a very good time to be on the market if you want to get your property seen.

Properties are still being listed

We are still conducting valuations. People still need to move and get the wheels in motion despite the current situation.

We can provide a property valuation either over email or through video call.

Visit our property valuation page to book yourself in.

The last decade saw a large up and down movement with property prices across the UK.

London saw the highest rise across the UK with property prices increasing by 72 per cent – more than double the UK average. However, this is now slowing down and property prices are beginning to dip in the city.

The average house price across the whole of the UK increased by 27 per cent. This equates to £47,647. The overall average is now £233,000.

East Midlands property prices

Looking locally within the East Midlands, house prices increased by 37.2 per cent over the last ten years. According to Rightmove, the average price now stands at £216,600.

The highest price growth in the East Midlands was Corby with an increase of 65 per cent. The lowest was West Lindsey at 22 per cent.

Low interest rates

This decade has also had very low interest rates which has helped keep mortgage payments down for many people. This has helped first time buyers are those looking to upsize.

Looking to the next decade

House prices are forecast to increase by another 15.3 per cent over the next five years.

The East Midlands is actually thought to grow more than this, with an average increase expected of 18.2 per cent.

How much is your property now worth?

Considering selling your property in 2020? Find out how much your property is worth by calling 0115 924 3304 or by using the form below. There is no obligation to use our estate agency services.

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All information and figures sourced from This Is Money.

Walton and Allen are one of the leading independent estate agents in Nottingham. We are also rated as one of the top 3 estate agents in the city by Three Best Rated. Here’s how we work for you.

Free Property Valuations

Need to know how much your house is worth? Our expert Senior Valuers are on hand to visit your property to value your property at the best possible price. Just get in touch to arrange a visit your home, at a time convenient to you.

You can call us to arrange a valuation on 0115 924 3304 or use the form below.

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Experienced sales team

Our sales team have over 50 years combined experience working in the Nottingham property industry. Once you instruct us they will will begin to market your property, book in viewings and negotiate offers. They will be in constant contact to ensure you receive expert advice, every step of the way.

You can reach them any time by calling our office or emailing salesteam@waltonandallen.co.uk.

Marketing your property

As estate agents we are always proactively looking to enhance property views for our clients.

Walton & Allen has a modern, digital approach to marketing. This is why we use window touch screens to showcase all of our stock. We also offer 360 virtual reality video tours. These are just some of the reasons why we are head and shoulders above our competition!

Best estate agents in Nottingham

Walton and Allen have been rated as one of the top 3 estate agents in Nottingham by Three Best Rated. We have been chosen for this award because of our value for money and excellent customer service.

About us

Walton and Allen are estate and letting agents in Nottingham. We provide property sales, lettings, property management and mortgage advice.

Walton and Allen Property Management collects rental payments and manages maintenance for our Landlord clients. Our block management division also maintains blocks of flats and residential estates.