Today we are thrilled to be celebrating Rickitt Partnership’s 4th anniversary. When we threw the doors open on that warm day back in June 2017 we could never have predicted a future which would be impacted so dramatically by a global pandemic; a future in which phrases like “lockdown” and “social distancing” quickly became part of the collective vernacular but if life teaches us anything, it is to expect the unexpected!
The last 18 months or so have seen us all navigating unchartered waters and facing unprecedented challenges whether that be on a personal or professional level. As a consequence, this particular anniversary feels especially significant, and we are immeasurably proud of all that has been achieved over the last four years and most especially over the last twelve months. Under the guidance of Managing Director, Tim Rickitt, Rickitt Partnership has become firmly established as one of Chester’s premium estate agencies and our reputation and client base continues to go from strength to strength.
Recently Tim was interviewed by BBC News economics editor, Faisal Islam, and his analysis of the current property market was aired as part of a feature on the property sector on the BBC’s national news.
Much has been made of the pandemic “property boom” which has seen house prices rise at the fastest rate in almost fourteen years. Tim explains in the piece for the BBC that using this phrase can be misleading as a “boom” implies a “bust” at some stage and this is unlikely to happen. “There is certainly a level of vibrancy in the market and predictions of a 5% rise in house prices this year look set to be realised but this is unlikely to be followed by any form of property crash. Over the next few years we are much more likely to see some of the heat gradually come out of the market as economic factors settle and we as a society adjust to our new ways of living and working.”
The current market is completely unique and Tim has not seen anything akin to it during the course of his thirty years working within the property sector. The current buoyancy in the housing market comes as a result of the change to working and living habits which we have seen during the pandemic. Over the last 12 months most office-based employees have worked from home and many major companies have indicated that they plan to continue with this option or move to a hybrid model. This new-found flexibility has seen many people opting for a new lifestyle away from the cities and towns. Tim says that the demand for village and rural locations has never been higher. Indeed, the Office for National Statistics confirms that this trend is being seen across the country with people seeking larger homes with green spaces in less built-up locations.
Tim explains that a number of other factors are also at play such as the effects of Brexit and the stamp duty holiday. In addition, money has never been so cheap to borrow with some great mortgage rates and terms to be had.
This has led to a wave of prospective buyers but because properties are selling quickly potential vendors are reluctant to put their homes on the market until they find a property they like. This catch 22 has led to a unique situation in which demand is outstripping supply.
With this dynamism in the property market, there is no better time to put your house on the market and take advantage of the wave of potential buyers desperately seeking homes. If you would like Tim to conduct a market appraisal of your property please give him a call on 01244 322322 or email email@example.com.
About the author
Danielle comes from a marketing and media background, with over 20 years experience in her field which includes tenures at a number of distinguished Cheshire-based magazines and marketing agencies. Danielle has responsibility for marketing at Rickit…
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