Video Viewings and Valuations

Covid Lockdown Statement – January 2021

Following the recent Covid announcement by the Government and in the interests of keeping our colleagues, clients, contacts and all of their families safe, we have decided to close our offices to the general public with effect from 9am, 5th January 2021.
Please note the business will continue to remain fully open and operational with staff working remotely from home using the same contact numbers and email addresses with full access to our systems. If you require a face-to-face Covid Safe meeting in our #Ripon or #Thirsk office, please contact us to make an appointment.
We have access to technology to provide video viewings and valuations of your property through the The Guild of Property Professionals, along with video calling to enable meetings and appointments to go ahead as required.
We ask in the first instance that a Virtual Video Viewing or call takes place prior to an actual in-person viewing. Following this, cash purchasers, First Time Buyers and applicants whose own property is Sold Subject to Contract are welcome to arrange a viewing of a property by contacting one of our offices.
virtual viewing
Survey and Architecture appointments, face-to-face meetings, market appraisals or viewings will only take place where we have established that the parties involved are not suffering from any Coronavirus symptoms, have been advised to self-isolate or have travelled outside the UK to any country on the quarantine list. We ask you to consider whether your appointment with ourselves involves Essential Travel.
We are all facing a tough challenge over the coming weeks, the housing market remains open. We will continue to work hard and provide our full services, and hope that we will return to normal business as soon as practicably possible and it is safe to do so. We wish and hope everyone stays fit and healthy.
If you have any questions or concerns please do not hesitate to contact us. We can be contacted on our landlines, mobile numbers or by email …
KEY CONTACTS
Michael Stephenson General Manager
michael@joplings.com 01845 521319 mobile 07540 691652
Amy Tattersall Sales Manager
amy@joplings.com 01845 522680 mobile 07740662682
Emma Orde-Powlett Lettings Manager
emma@joplings.com 01845 522680 mobile 07540691653
Sam Torkington Lettings Manager
sam@joplings.com 01765 694802 mobile 07912732584
Vicky McGrath Assistant Sales Manager
vicky@joplings.com 01765 694800 mobile 07738 545 215
Richard Boyer Building Surveyor
richard@joplings.com 01845 521317 mobile 07395790722
The first 100 days post lockdown

The Ripon Property Market Post-Lockdown – the First 100 Days

The Ripon Sales Market, Post-Lockdown – the First 100 Days

With only around 1 in 5 Ripon house sellers actually selling their home in the last month, Ripon sellers and buyers will need to continue to be pragmatic if the surprisingly strong current levels of activity in the Ripon property market are to be sustained.

To start, we had the once in a lifetime event of the credit crunch in 2008, we then had another once in a lifetime event with the Brexit vote in 2016 and now the mother of all ‘once in a lifetime’ events, Coronavirus in 2020 – three once in a lifetime events in the space of 3 Olympic Games!

The doom-mongers forecast that the British property market would drop like a lead balloon on the scale of the 1989 housing crash (where property values dropped by 30.87% in a couple of years) but would be nothing compared to the tsunami that was Covid. Yet in the first 100 days of the property market coming out of lockdown, behavioural and economic changes mean that many Ripon homebuyers are now even more dedicated to moving home and the Ripon property market is doing quite well.

Going into lockdown, the effect on activity in the Ripon property market during those two months was expectable and predictable as it was placed in suspended animation during April and May. When the Ripon property market re-opened in mid-May, nobody predicted what happened next. Of course, many of us in the property industry estimated some release of pent-up demand from the Boris Bounce, yet nobody anticipated such a ricochet in activity in the Ripon property market.

This is particularly interesting when one considers GDP dropped by 20.4% in Q2 2020 (fascinating when compared to notable historic times when it dropped by 13.8% in WW2 and 16.7% in WW1), yet amidst the largest contraction in the UK economy ever in a single quarter, what wasn’t expected was an increase of potential property buyers and property sellers wanting to move post lockdown.

Some have cited this boost to the property market on a number of factors. Firstly, we have had the Stamp Duty Holiday, others have pointed at the never seen before 0.1% Bank of England base rates making mortgages cheap, then we had the furlough scheme which protected so many jobs and finally, the pent-up demand from the Boris Bounce.

Yet, when one actually talks with Ripon buyers and sellers, whilst all of them cite one or two of the above reasons, all of them mention and talk about how the lockdown has made them re-evaluate and reconsider how they want to live, their work-life balance and where they want to live. This is also reflected with tenants changing their requirements when looking for a property to rent (so Ripon landlords – be aware of this).

Demand for apartments in the centre of Ripon has eased off, whilst demand for property with a good-sized garden or other outside space has increased. One question we get asked all the time is also the broadband speeds, although they are quite decent in Ripon (the average broadband in our local Council area being 38.1 Mbps download and 7.6 Mbps upload).

So, with record numbers of Ripon properties coming on to the market – is it boom time for Ripon homeowners?

Of the 81 properties that have come onto the market in Ripon over the last month,

only 15 of them have agreed a sale

(a percentage of 18.5%)

That means around 4 out of 5 Ripon people that have placed their property onto the market have not found a buyer yet.

Yes, the Ripon property market is good, yet the number of people who have placed their property on the market has also gone up. Ripon estate agents have never been so busy putting property on the market and I feel sorry for the chap who is putting up all the for-sale boards – his wife hasn’t seen him in daylight for weeks!

But that does mean you are in competition with so many other properties on the market (the number of properties coming on to the market typically at this time of the year is about a third to half less). The Stamp Duty boost ends in March 2021, so that means you need to have found a buyer by November at the very latest. By overegging your asking price, to test the market, might mean you will lose out on this hiatus and could end up missing the boat!

The prices being achieved for the Ripon properties

that have been selling have been fair and realistic and have stood up much better

than many were originally predicting.

Yet as the country looks forward, given the ambiguous nature of the outlook for the British economy and the possibility that Covid-19 may be with us for a little while yet, I must implore Ripon property sellers to be realistic with their asking price so a greater number of you who want to make the move, are able to do so.