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South Coast property market round up September 2020

south coast property market september 2020

We carried out a valuation of this commercial property for a national charity

 

It’s been a rollercoaster at Daniells Harrison, as it has for everyone, during the last 6 months of the pandemic. The very nature of our business is dealing with land and property and that involves being out and about visiting sites and clients, so, as you can imagine, during the initial lockdown things were very different for us.

From furloughing the majority of staff at the end of March to getting the last member back in in September, the effects of COVID have been dramatic and challenging for us all, not least having to organise and adapt to undertaking COVID safe inspections. But 6 months on, whilst the impact has been unpredictable in many ways, it’s not all doom and gloom. We wanted to share some of our experiences and hopefully shed a more optimistic light on the future of the  property market both on the South Coast and further afield.

Charity valuations

We have carried out a high number of valuations over the last six months for local and national charities.  The charities, which encompass causes from education to faith-based and national emergency support services, have approached us to carry out valuations of land and property that they are looking to acquire. We have valued commercial and residential properties to be used as part of the charity operations, and land or properties being bought as investment opportunities.  As well as providing valuations on behalf of charities we also carry out Charity Act Reports where the charities are looking to dispose of their assets – find out more.

Doctors surgery valuations

We have been approached by a substantial number of local GP practises to carry out valuations. Some have been to get bank funding to improve or extend the current facilities, whilst in other cases we have been asked to provide an up- to-date valuation of the property where the GP partner is looking to buy into or leave the partnership.  Our Architectural Services department have also been involved in designing and planning extensions to GP surgeries – read more here.

wickham surgery extension

Wickham surgery extension

Local authority valuations

We’ve been acting for a Local Authority, who are adding to their council house stock, by carrying out valuations of properties they are seeking to buy.

Increase in residential surveys

The South Coast residential property market is looking buoyant at the present time. A combination of the lowering of stamp duty and the move away from city living to the South Coast have both meant we’ve been busy carrying out residential surveys.

south coast residential property market

Isle of Wight

David Wiggins at our Isle of Wight office describes the last 6 months as unprecedented in terms of the activity in the residential property market. They’ve seen an influx of house purchasers either seeking to move to the Isle of Wight or invest in a second home there. In what David describes as the “work from home effect” – people want to live somewhere they like if they are working from home and the Isle of Wight ticks many boxes. The knock-on effect on the wider IoW property market has meant higher house prices, with sales agreed above asking price and some rather anxious vendors and buyers.

Elsewhere our Buildings Consultancy, Property Management and regional offices have all been keeping busy. See our latest news items here.

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