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Thursday, April 16, 2020 39

NEWBURY NEWS

Newbury Weekly News

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A Newbury News Limited publication www.newburyhomesearch.co.uk find your perfect home in west berkshire here each week in Newbury home search and online anytime at www.newburyhomesearch.co.uk

Rise to the occasion THIS smartly-presented semi- detached house is situated in a popular cul-de-sac in The Rise, Cold Ash. operates on gas central heating and benefits from double glazing

Business is still moving

SO now we are only a matter of a few of weeks into lockdown, yet, can you believe it, I am speaking with agents from all over the UK and properties are still being sold and let even in these unprecedented times. Yet I would like to address the question I have been asked many times recently: “What will be the effect of Covid-19 on the Newbury property market in the short, medium and long term? ” These are unchartered times, yet we can look back in history to give us clues and recently, the bounce back that is happening in China. The Covid-19 situation will touch all parts of the Newbury and UK property market, and so in the next three articles, I will be considering its impact on property prices, the number of people that move home, buy-to-let landlords and finally tenants and the rents they pay. The three issues with the virus and the property market The first issue must be the lockdown itself. Limitations on society’s capability to go about their normal working life will hinder the house buying/ selling process. The practical dif iculties of moving home and expediting the property sale; from the viewing, the Energy Performance Certificate being carried out, the surveyor checking the property etc are all issues. Yet the estate agency and legal industries are coming up with some innovative solutions, from virtual viewings to legally watertight delayed completions, where the old owners stay in the house under licence during the lockdown, and the move will take place after the lockdown period. Secondly, the UK housing market has never liked uncertainty and this virus will play a part on people’s feelings and sentiment towards moving home (or not). Thirdly, there is the issue with the money people have, be that wages, whether they have a job and their overall affluence, on the back of the Market comment by LEO DOWNER, director of Downer & Co

and has an EPC rating of D. The Rise is just of Collaroy Road, Cold Ash. Collaroy Road is a leafy residential country lane, offering an elevated position just a short walk to the village shop and two very popular pubs. The village is well-known for its excellent primary schools and it sits about a mile from Thatcham, which offers a railway station on the direct line to London. Road links are very good with junction 13 of the M4 being within a short drive and yet the whole area is surrounded by beautiful rolling countryside. The guide price is 450,000. For more details, call (01635) 35010 or visit www.jonesrobinson.co.uk

It boasts flexible accommodation with a modern fitted kitchen and utility, three receptions, four bedrooms, two bathrooms, driveway parking and an enclosed rear garden. An entrance hall and cloakroom leads to a dining room with open fireplace, a living room and family room, as well as a conservatory on the ground floor. And there is a master bedroom and en-suite, three further bedrooms and a family bathroom on the first floor. There is plenty of parking at the front of the property and the enclosed, west-facing rear garden extends 45ft x 40ft.

Properties are still being sold and let

29.4 per cent stock market decrease in the last two months. The background economics The economy drives everything, including the housing market – and the overall measure of the economy is the Gross Domestic Product figure (the total value of all goods created by the UK economy in one year), which stands at £2.15 trillion. Looking at what has happened in China, most economists believe the UK will experience a short, yet sharp economic shrinkage in Q2, with GDP set drop seven per cent. Then GDP is expected to level out in Q3 before a significant ricochet. Putting politics aside, I have been impressed with Boris Johnson ’s response with support for the UK economy and businesses. While it’s far from perfect, help has been in the guise of the Bank of England reactivating its Contingent Term Repo Facility increasing liquidity and keeping the money markets going (important as that was the issue with the Credit Crunch), business grants, together with telling lenders to take a compassionate line to those unable to make mortgage holidays and finally the furloughing of staf . If you want to read the full article, it is on newburypropertynews. co.uk, but next week, for the avid reader of this paper, I will look at what will happen to property values and analyse the number of people that are likely to move. Stay safe and well.

All mains services are connected. The property

Family home in cul-de-sac THIS four-bedroom semi-detached family home is positioned at the end of Mayfair Drive, Newbury, a quiet popular residential cul-de-sac. It offers excellent living space, within St Bartholomew’s School catchment and close to the town and railway station. The accommodation comprises a large open-plan kitchen/dining room, living room, study, cloakroom, converted garage/double bedroom, master bedroom with re-fitted en-suite shower room, two further bedrooms and family bathroom. Benefits also include a west-facing garden, storage outbuilding and driveway parking for several cars. The guide price is £385,000. For details, call (01635) 523777 or visit www.downer.co.uk Newbury’s Van & Truck Hire Specialists Make the smart move, call 01635 552200 smart hire vehicle rental CARS VANS MINIBUSES TRUCKS www.SmarthireVehicleRental.co.uk