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House Buying is Back - £37bn House-Buying Boom in July 2020

Posted in: Latest News

During the end of the lockdown period, it was feared by industry experts that the property market would suffer a serious stagnation. With so many people experiencing financial losses, it was only logical to conclude that things would be challenging in the industry.
However, things have progressed in a slightly different fashion. There was a £37billion house buying boom which passed through July 2020, and the industry seems to show no signs of slowing down.

A Good Month

So, despite the fears of financial experts and property veterans, the industry appears to have hit the ground running, with the average asking price for a property in July 2020 being over £200k.
This information is intriguing considering that the UK is now plunging into a recession as a direct result of the lockdown period. Despite the fact that some businesses are in the worst financial conditions that they have been for a decade, there are still significant numbers of property sales going forward.

This means that people's lives carry on, their plans to move forward in life doesn't stop, just because significant parts of the economy slows to a halt! If you're looking to buy a property, need a mortgage, or are looking for a remortgage from a leading mortgage advisor covering Mold and Chester - now has never been a better time to get in touch! Message us here, or call us on 01244 90 44 10 for a free and friendly no-obligation chat.
There are many people who speculate that this is a result of all of the sales which did not carry on during the lockdown month and that this is the industry catching up and eventually settling back down into a normal routine. However, there are some people who have an even more optimistic prognosis.

An Exciting Future Ahead 

The property industry has proven over decades how robust it is, and this has never been clearer than emerging from the pandemic. Mortgage approval rates are positively consistent, and every single day we're putting smiles on peoples faces all over the United Kingdom! Did you know, the team here at Love Mortgages can save you hours out of your day visiting your bank or lenders directly. Call us on  01244 90 44 10 for free no-obligation advice on what we can do to help you find the best mortgage for your lifestyle and future plans. The whole process can be conducted over the phone if you prefer, we can communicate with you during evenings and weekends if required and we're completely flexible around you. Plus, the opportunities we've brought to all our clients over the years has allowed us to perfect the whole process, making getting your mortgage nice and easy.

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