Market update: 27 March 2020

Rob & Rob are back again today with another Friday market update for you.  Whilst this week has been a bit of a whirlwind with positives and negatives throughout the media, there were still some headlines The Robs thought needed clearing up. Apparently, the government has put the housing market on hold.  But surprise, surprise… this isn’t the case.  What they’re actually doing is offering advice on buying and selling a property in the current circumstances.  It’s also been said that banks are putting a stop to mortgage lending.  Again, not quite the full story.  This isn’t down to the fact that the banks have no money or are expecting property prices to plummet like some may think. It’s actually due to the fact that they’re overwhelmed by the amount of people applying for mortgage holidays and they’ve had to move their call centres to working from home.  Plus, they can’t have surveyors going out to value properties which obviously puts a delay on things.  So, as well as proving the scaremongering headlines wrong, here’s what else you can expect to hear on today’s episode: How we’ve adapted our business in the face of what’s going on How we’ve still been working on deals Why now is a great time for property investors A look at current stock market And to end on a lighter note, whilst there’s a lot of negativity going around, there’s also a huge sense of community and togetherness which is a lot stronger than anything that could ever break us. Enjoy - and we’ll be back next week! We’d love to hear what you think of our new market updates over on Facebook, Twitter or Instagram. You might even have a question you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.   Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.