How Will The Coronavirus Impact Buyers and Sellers?

Jun 11, 2020

5 Things You Should Know About The Post-Pandemic House Market 

Many London employees are now interested in out-of city properties due to new work-from-home policies

Last month, Boris Johnson gave the property market the green light to reopen again, albeit with some remaining lockdown restrictions in place. Buying, selling, house viewing and renting properties are all permitted again and as lockdown eases in England, the property market continues to reevaluate how the Coronavirus has changed the landscape.

1. Swapping Bow Bells for Cow Bells
Although London property prices are now 24.8% lower than before the pandemic, the experience of living through lockdown has spurred many city dwellers towards finding a country pad in an out-of-city location. Taking the bull by the horns, some Londoners are now realising their dream and are looking for homes with excellent commuting links which can allow them to divide their time between both the Big Smoke and greener pastures. This has been reflected in the recent searches spike for properties in English market towns and Scottish fishing villages.

2. First-time Buyers Could Bag a Bargain
Many commentators have speculated that the long pause in property market trading could create unprecedented opportunities for first-time buyers to clinch a once-in-a-lifetime deal. Prior to lockdown, house prices were increasing and with the UK House Market still suspended, it’s still early days for speculation on whether the cost of a first home is going down. One option for first-time buyers could be to look at housebuilders’ properties rather than homeowners, who may still be resistant to selling during uncertain times. Housebuilders are in the business of sales and may be more negotiable on price. They have no sentimental attachments to the property and will have targets to meet before reaching their accounting period at the end of June.

3. On the Rebound
Predictions around the property market’s future were plentiful during April but with most buying and selling restrictions lifted in England, the reality has been a high level of bounce-back demand for residential properties. Although house sales are around 10% lower than in March, the average asking price is now 6% higher than the same period in June last year indicating that houses are continuing to sell and prices may continue to recover over the next few months. Some commentators are even suggesting that there may be a mini-boom on the horizon. 

4. Financial Gains
As the government continues to extend the mortgage holiday for another three months, people who need the financial break will not need to pay their suspended homeloans until September 2020. In addition, first time buyers purchasing a new build can still take advantage of the government’s Help to Buy scheme, which negates the need for a large deposit whilst delivering brand new fixtures and a 10-year warranty. Low interest rates are also a consideration for buyers as they are likely to pay less on their monthly mortgage payments. It remains important for borrowers to do their homework, however, and ensure that they have the best financial product and mortgage rate for their income, outgoings and needs. The good news is that if a buyer does have a decent deposit, they may well find that their mortgage payments will be much lower than the previous rents they were paying due to the lower interest rates available.

5. The Green Green Grass of Home
As the lockdown period has highlighted, a person’s mental health may be vastly improved when they have regular connection to a green space. For post-pandemic house sellers and buyers, the prospect of a spacious garden may well affect the house price far more than pre-lockdown sales. There could be greater demand for properties with easy-to-access gardens, parks and high-quality open spaces. And with the arrival of the Environment Bill’s agenda, new residential projects will need to seek opportunities to demonstrate greater biodiversity enhancements and improve green spaces for both humans and wildlife. 

Get In Touch
Interested in viewing our Midlands property portfolio? To talk to us directly, please call
0121 4426611 or email us: enquiries@miapropertygroup.co.uk 
For further information, we recommend visiting our Residential portfolio page for all the latest available properties and to see what we have on offer.  
12 Jun, 2020
MIA’s latest property development West Lodge is situated towards the edge of the historical village of Bournville. Traditionally known for its medical and student population, this part of the city has easy commuter links to central Birmingham and offers an excellent range of bars, cafes, dining and supermarket amenities. But what is it really like to live in these Birmingham burbs and is there a lot more to the area than first meets the eye? 1. A Big Butt! The area originally takes its name from a large oak tree which stood at the crossroads of the Bristol Rd and Oak Tree Lane/Harborne Lane until the 1880s when it was felled due to root damage. The remaining stump was then transplanted to Selly Oak Park with a plaque declaring "Butt of Old Oak Tree" from which the Selly Oak name was derived. 2. Finding Your Park Life A beautiful and expansive oasis, Selly Oak Park dates back to 1734 when it was once a medieval deer dwelling. Whilst connecting with this tranquil green space, you can also discover hidden gems to such as the impressive collection of wood works including a canal boat; storytelling bench; and nature sculptures of deer, squirrels, a large acorn and a kingfisher. With its adventure playground, complete with climbing wall and zip slide sitting proudly at the top of the park’s highest point; a newly appointed outdoor gym and an art and history trail, Selly Oak Park has something to offer everyone recreation and reconnection with nature. 3. Home of BBC Soap ‘Doctors’ Filmed at the BBC's Birmingham Drama Village , the lunchtime soap 'Doctors' is produced and recorded in Selly Oak. You may also spot the crew round and about filming at University of Birmingham ’s on-site health centre or in nearby Birmingham’s internationally acclaimed art gallery, the Ikon . 4. Cheap Eats and Michelin-Star Treats With a vast array of different dining choices to suit all pockets and situated just a stone’s throw away from central Birmingham, Selly Oak is well positioned to access some of the most diverse and delicious restaurant food in the country. Within the area itself and situated on the Pershore Rd, the Royal Watan Kashmiri Restaurant has been highly praised for its delivering authentic and tasty curries during lockdown whilst classic British greasy spoon, Cafe Face, provides top-notch fry-ups and a good brew. If you are happy to venture further afield into central Birmingham, the city boasts four Michelin-starred restaurants for those who are feeling flushed and on the hunt for fine cuisine. But if you are feeling more like chicken tonight, then one of Selly’s best kept secrets is its very own Nando’s located within the brand new Selly Oak Shopping Retail Park . 5. Europe’s Finest Art Deco Concert Hall Designed in the 1930s and maintained to an immaculate condition, The Barber Institute on the site of University of Birmingham, is home to a beautiful art deco concert hall where you can regularly catch a free Friday lunchtime concert and a wide range of art exhibitions. The University is also home to the stunning Bramall Music Building , a custom-built concert hall which hosts many exciting performances and concerts throughout the year. 6. The Secret is Out If you would like to stretch your brain and want some time out with friends, then Selly Oak can offer a session of thrill and frustration with its 404 Escape Rooms situated on Birkdale Avenue. Featuring mechanical puzzles to create an impressive level of immersion, the rooms can be an entertaining way to engage and work together in a team. 7. Just a Hop, Skip and a Jump Getting into central Birmingham is a breeze from Selly Oak. With a train journey of 10 minutes from Selly Oak to Birmingham New Street, commuting to the city is quick with frequent arrivals and departures via train or bus making Birmingham easy to access for work, gym or play. 8. A Model Neighbour Within walking distance of Selly Oak, Bournbrook is home to Cadbury World , now owned by the American giant Kraft, and the utopian post-industrial village of Bournville Village. Taking a tour of the factory gives you a potted history of chocolate, opportunities to sample its delights and insight into the Cadbury business. Afterwards, take a wander through the garden-factory village itself - a historical gem of social planning - and see Bournville's beautiful architecture, flower beds and green spaces for yourself. 9. A Walk on the Wild Side With its unique collection of Red Pandas, lemurs, meerkats, otters, bird and wallabies to rival any big city zoo, The Birmingham Wildlife Conservation Park is just a 20 min walk from the centre of Selly Oak. Ideal for a day out or complete change of scene, the park supports many endangered species and offers conscientious nature lovers the opportunity to sponsor an animal. 10. Wake Up and Smell the Coffee Finally, where to go for your cup of Joe? Harborne houses a fine selection of java dens including The Steam Room which was recently voted best coffee shop in Birmingham for its welcoming of dog owners and quirky decor. Selly Oak’s Creative Coffee Hub provides free wifi; coffee, cake and sandwiches; pottery workshops and craft packages for children’s parties or baby showers. It can also provide a brilliant, calm atmosphere conducive to meeting up with friends, working and writing the odd blog or two! About West Lodge , Birmingham Set on the edge of the idyllic village of Bournville, the work is now completed on transforming the former clinic at Selly Oak Hospital in Birmingham into West Lodge's beautiful apartments. To see detailed plans, apartment layouts, updates and video footage on West Lodge, please click here. For further information, viewings and enquiries, please contact the MIA team on: 0121 442 6611 or email: enquiries@miapropertygroup.co.uk.
01 Jul, 2019
We are delighted to announce that we hosted a launch day at Fairlawns on the 29th June 2019. Many people flocked to view the new property and a steady foot fall of people throughout the day. Our wonderful visitors left some brilliantly positive feedback with us which we highly valued. We would also like to thank Alex - Smith and Co Estate Agents for organising such a successful and well received event, their hard work was greatly appreciated by the crowd that attended the wonderful event.
15 Jan, 2019
Plans for almost 40 apartments to be constructed in Birmingham have been given the thumbs up. MIA Property Group is behind the plans for 37-43 Wake Green Road, Moseley, which include the demolition of a building and the construction of a three to four-storey replacement with space for 36 flats. The applicant had originally submitted proposals for 39 apartments. A final decision was made at a meeting of Birmingham City Council's planning committee on Thursday 5 July. A spokesman for MIA Property Group said: "We are delighted for the support by Birmingham City Council to produce such a fantastic scheme which will benefit the people of Moseley."
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