Guernsey estate agent Cooper Brouard has given an upbeat assessment of the local property market.
Since the easing of lockdown allowed viewing, valuations and the completion of property transactions, the property market has got off to a flying start. And in spite of concerns to the contrary, prices have held, with the majority of sales going through at, or very near to, asking price.
Cathy Gallienne (pictured), Director at Cooper Brouard, commented: “We are finding it on a par with the uplift in sales we normally see in the new year.
"Since being permitted to go back in a limited capacity, we have had several sales, both open and local, going through court; more than 20 local market and rental properties under offer or let agreed; and a high volume of open market enquires, with several viewings and video viewings set up.
"However, those figures keep increasing, with another two properties under offer this week – that‘s how fast things are moving.”
Of the positive prices being achieved, she added: “There has been some commentary predicting that prices would fall, but we haven’t seen any indication of that at all, with all of our sales and offers hitting on or close to their asking prices. That’s a very positive sign for the economy as a whole.”
Cooper Brouard’s observations have been echoed by those in the mortgage industry. SPF Private Clients Managing Director Pierre Blampied has reported that more than 40 valuations were instructed in the first week that lockdown was eased.
“We have a steady stream of applications coming in and certainly haven’t seen a drop in activity," he said. "Lenders that had put business on hold are back in the market and one lender has reduced its interest rates, making it more beneficial to borrowers.
"It does still take a little longer to process the paperwork, but people appreciate we are all working together and are being patient and understanding.”