Diary of an agent: Alex Robinson and Tim Harriss

Alex Robinson (pictured left) is part of Knight Frank’s Private Office and Tim Harriss (pictured right) is office head in Guildford.

Space to live remains a key driver for prospective buyers; although there’s a growing urgency to get deals done and moves made; with pricing remaining sensible despite the highly active market.

Who is out there and what are they looking to buy?

Alex Robinson (AR) – At the moment coming to the UK for a short time to view property is very difficult due to the need to quarantine. I’m dealing with buying agents more because of this but it’s still tricky, as quarantine means that a property might be sold before the prospective buyer can view it in person. I have an Asian buyer that has extended his stay in the UK three times now to secure a property. Domestic buyers have helped fill the gap though, and irrespective of where they are based, space, amenity and security is at the top of their lists.

Tim Harriss (TH) – I’ve been an agent for 30 years and I’ve never seen a market like this one. We operate in both Guildford town and the surrounding area and in regards sales it simply hasn’t stopped since we came out of lockdown in May. We appeal to families coming out of South London and down the A3 to access our independent and state schools. Since the pandemic we are seeing families coming out of London sooner than they normally would, now with babies rather than young children as lockdown appears to have accelerated people’s ‘five-year plans’.

How are lockdown restrictions affecting the process?

AR – The quarantine rule for travellers is frustrating. One prospective buyer flew in and quarantined as required, but for another based in Nigeria I’m dealing with their buying agent. Given how active the market is, there’s a fear amongst prospective buyers overseas that they could miss out on their dream property as they have to quarantine first.

TH – Buyers and sellers are becoming short-tempered. Clients want to get on, and the uncertainty around Covid and future restrictions has heightened this. It comes at a time when lenders, solicitors and local authorities are struggling to cope with the volume of work, which is causing delays.

What are the best-performing parts of the market?

AR – Properties previously ignored have had new interest and sold since lockdown, typically with a price tweak and when they offer outdoor space. St George’s Hill and Wentworth Estate in North Surrey are proving very popular as they offer space but also proximity to London.

TH - Family houses of any shape and size. The buyer profile appears to be getting younger, too. I dealt recently with a 37-year old living in Tooting. They have a young child and work in the City. They’d been looking in Barnes and Richmond but realised how much further their money would go in Guildford, yet with a similar commuting time. 

What’s happening to prices?

AR – People remain cautious and aren’t over-bidding. However, as there are fewer properties at the higher end of the market, when something good comes on there is strong interest. 

TH – Transactions are three-times higher than they’d normally be at this point. However, prices are where they were pre-Covid. The stamp duty holiday has set the market on fire but while activity is through the roof prices remain sensible.

And is it still space and outdoor access that buyers want?

AR - 100%. Before Covid I’d been to Richmond once or twice but it’s now a regular haunt. Hampstead and St John’s Wood are popular too, as you can get a large house and big garden in London. For those in central London if it’s a flat then it needs to have a terrace or outdoor space.

TH - Talking to people that normally commute, around half won’t be back in their offices this year. Even when they are it might be for two or three days a week, so working from home has made space so important.

What are your thoughts on the months ahead?

AR – There are risk factors ahead of us such as local lockdowns, but we’ll be busy through to Christmas. We are still winning instructions so there remains a good supply of property for sale.

TH – There’s an insatiable demand to be in for Christmas and we had a phenomenal September, although activity in October feels slightly cooler. It may be a tougher winter with the end of both furlough and the stamp duty holiday next year, however there remains an appetite, demand and willingness amongst the public, borrowing remains cheap and prices haven’t become silly.