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Eitan Eldar: Online Tools Help Keep UK Real Estate Market Afloat During Coronavirus Pandemic


The impact of the coronavirus pandemic on the whole world is massive, with a sharp down-trend in stocks and real estates in the UK. Since the pandemic became wide-spread across the globe, it has become increasingly difficult to do business as usual for everyone, even for real estate agents, as they develop new ways of viewings and valuations. The country-wide lockdown has taken its toll on the real estate market.

As it becomes increasingly difficult to carry out business as usual, Eitan Eldar says, “The quarantine and restrictions on movement set by the government to stop the spread of the coronavirus prevented potential buyers from inspecting properties and meeting with agents. We all know this isn’t good for the real estate business, but it’s the best approach to contain the spread of the virus.”

Online tools for viewings and valuations by real estate agents

With new sales becoming virtually challenging to close, the UK real estate agents are moving online in their droves for viewings and valuations. Sellers that were already on the ground on the market have their available stock reduced just by 2.6%. However, as the government restrictions on movement and physical business transactions came to being, different initiatives have been exploited by real estate agents to reach both potential buyers and sellers.

“Showing properties online has helped to keep the real estate market afloat for all during this coronavirus outbreak. However, sales are still down,” said Eitan Eldar. “This method allowed the real estate market to stay somewhat active, compared to other fields to shut down completely. With this novel initiative, investors can still go about to check out properties of their choice and close deals even as the pandemic ravages the world”.

The focus of the real estate agents is now on video viewings of properties, allowing buyers to inspect properties they are interested in ahead of the time when the restrictions will be lifted on movements. Real estate markets have started to recover from the fall it experienced at the beginning of the lockdown.

The overall result of the pandemic on real estate

Like every other sector of the economy, the real estate industry has had its fair share of the pandemic. And the impact might still be felt even when restrictions of movements have been loosened.

Eitan Eldar says, “In the real estate market, commercial real estate continues to experience the most of the impact of the pandemic. We don’t expect a fall in the private home market, at least, not in the long run”.

https://www.youtube.com/watch?v=C-OceUHdp6E?feature=oembed

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Eitan Eldar: “The UK real estate market is going to soar Post-Brexit”

Posted on: 15 Mar, Author: ebrand

The housing prices in the UK have soared and have set a record for the fastest rate of growth. This has all been achieved in just the last month. This is attributed to the boost in confidence and a good perspective on the housing market following the general election.

A 2.3% jump in the average price of new to the market prices have been seen. In 2002 the property website started its house pricing index. This 2.3% jump for this particular time signifies the biggest jump since the tracking began in 2002. The average asking price per property was £306,810. Over the month the market saw almost 65,000 listings.

Ceo & Founder of EEH Ventures has stated that even though England has gone through long and economic turbulence, this new trend of improvement is going to continue. He went on to say. “The UK markets are waking up,” said Eitan Eldar, “This is happening because of the outcome of the elections and because Brexit finally became a reality“.

 Part of the Credit Goes to the Election Outcome

 2019 saw a slow year for the UK housing prices. but this has changed since the turn of the year as prices have been on the rise. A major factor for this has been the General Election victory of Boris Johnson, the new Prime Minister. This has brought a 4.1% rise according to the January housing prices recorded by Halifax.

Expectations for real estate prices are that pricing will continue to increase. A strong indicator of this is the accounts EY producing a 2020 raised forecast of 2.8% from 2% for growth to be realized in the housing market. All of this is as a result of Brexit now becoming a reality.

 “Boris Johnson’s winning of the elections was the first indication in the process of stabilizing the economy”, said Eitan Eldar. “The pro-business conservative party winning in such a landslide gave the markets the badly needed relief”.

Following the Brexit Era

Many factors can affect the housing market, but uncertainty is a major factor that can cause hesitation among home movers. As a result of the last three and a half years of unsettlement over the EU referendum, it created a pent-up demand. This has since dissipated as a result of its settlement. This is giving a strong picture of activity for a robust spring market.

“Uncertainty about Brexit is finally over, and the British economy is expected to fully recover during the next few years “, said Eitan Eldar and added: “As uncertainty about Brexit is being replaced with optimism, we will see a lot more people buying homes and investing in real estate – UK real estate is soaring”.

 Overall the British population is on a bit of a roller coaster with their mix of emotions of anxiety and excitement.  All as a result of the history-making separation of the United Kingdom from the European Union which became official on January 31, 2020. Only time will tell as to what the impact of this happening will have on the Brexit economy. When it comes to market recovery, there is no need to wait to see the recovery as the evidence is already present.

https://www.youtube.com/watch?v=CKJKOsxmfhc?feature=oembed

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