February is officially the month of love but it’s not just our other halves that are the objects of our desire – it’s our properties too. Spending so much time together during the various lockdowns has put a focus on our homes like never before and that love has not always proved perfect.

Some have concluded that improvements must be made. Sales of furniture and DIY products have been booming and councils are being overwhelmed by planning applications for extensions. Others have decided it’s over and it’s time to move on. What most of them are now searching for is space both inside and outside.

We are optimistic. As you know we have been fully operational since the end of the first lockdown (end of May 2020) and continue to be very busy. We adhere to and follow all Government COVID-19 guidelines with regard to viewings etc and have not been affected whilst carrying out our daily tasks, duties and responsibilities. All members of Finlay Brewer take COVID-19 tests weekly. We have been blessed indeed by the Government’s support and thankfully we all have been COVID-19 free to date, which is quite remarkable. Some of our team have already received their first vaccine jabs and are feeling indestructible and with the rapid roll-out of our vaccination programme the end of the COVID-19 restrictions are in sight and we can finally start looking forwards with continuing optimism. Roll-on (no earlier than) 21st June!

Despite the current lockdown, our property sales in 2021 are already up on 2020. There is a real feeling of optimism across the market – this doesn’t mean prices are rising but it does mean that correctly priced properties are receiving acceptable offers relatively quickly. Buyers are ready, they are well-informed and they know what they want.

Although the latest Rightmove report shows both prices and demand have fallen for city centre properties and risen for those on the margins, that situation could soon reverse. With a return to anything like normality, we will all start going back to work. During the first lockdown there was lots of talk about how much we were enjoying the benefits of working from home. Now we’re fed up with it. We miss the stimulation we get from our colleagues and we’re thoroughly bored with spending all day, every day in the same spot. It’s not just about work either, we’re also missing the city’s culture and nightlife. There will be changes in working practices so both homes and city centres will need to reinvent themselves to take advantage of changes in the life/work dynamic.

The rental market continues to be challenging but we expect activity to increase now that we have a roadmap to normality. I’d just like to remind any landlords who manage their own properties about upcoming changes in electrical safety certificate regulations. In June of last year EICRs (Electrical Installation Condition Report) were made compulsory for any rental properties with new or renewing tenancies and from 1st April this will be extended to rental properties with existing tenancies. Full information here. We have been preparing for this for almost 2 years and are currently on track to finish the required works on all of our managed properties.

Our International Team are suffering from poorly managed local COVID-19 policies. Infection numbers in the south of France and Monaco are still increasing and they are suffering local lockdowns, nightly curfews and a limit to how far you may travel. Despite the team reporting that the current situation is frustrating, they are experiencing an increased level of overseas sales enquiries – buyers who are interested in this popular Mediterranean hot spot, are keen to buy and want the transaction to take place swiftly. Here is a sample of a family home that is suitable for holiday accommodation or year-round living.

Enjoy the first bloom of spring, stay safe and I will be back again next month.

Teresa