25th March 2020
The Moores team are all working from home now, and whilst we’re as frustrated as our clients about not being able to undertake valuations and viewings in person (as dictated by the Minister for Housing on Tuesday) our 7-day a week service remains for anyone needing to contact us. I can provide some guidance on property values over the phone and by email – I’d like to think that after 40 years as an agent in this area I can estimate values to within +/-5% given a good description of the condition, and the fixtures and fittings, especially if you can email me some photos!
Angie Wright should be able to do the same for rental values (Angie is far more accurate than me on rental values!) Any advice would have to have the caveat that the figures are ‘subject to review’ when the property is accessible to us.
We’re not sure at this stage what sale completions will be able to proceed, or how we’re going to get tenants into their new homes where lettings have recently been agreed. These may have to be postponed but our team are working on this aspect and we will update you in due course.
There hasn’t been any good news recently so it was very pleasing to see the financial markets rally yesterday after the US Congress was said to have agreed on a stimulus package worth $2tn to support the US economy. I believe discussions have also begun on eurozone fiscal support with finance ministers meeting in Brussels last night.
The equity rally saw many shares rising the most in one day for over 10 years. The Dow Jones Industrial Average rose 11%, alongside Germany’s DAX index. The FTSE 100 rose over 9%, the best increase I read since November 2008. I suspect this rise may be temporary as markets will be volatile until there is proof that the pandemic is receding with death rates falling.
The positive I take from this, is that things will bounce back fairly quickly when normality returns. We’ll try and keep you updated.