Knight Frank Daily Update Wednesday 10th June
Expats look homewards, the return of the zoo and a lettings market rebound
2 minutes to read
Good morning,
Need to know
Prime Minister Boris Johnson will today set out which sectors of the economy will be allowed to resume business on the 15th of June, including the reopening of shops, zoos and drive-in cinemas.
Other businesses, including pubs, restaurants, hairdressers and gyms, would remain shut until the 4th of July at the earliest, Alok Sharma, the business secretary, said yesterday.
Studies show people with the coronavirus are most infectious just at the point when they first begin to feel unwell, World Health Organization (WHO) experts said on Tuesday.
A separate study suggested homemade masks can dramatically reduce transmission rates if enough people wear them in public.
AstraZeneca yesterday received $23.7 million in funding from a US government agency to advance the development of antibody-based Covid-19 treatments.
The property market
A new survey from our global team reveals an increasing number of expats are seeking a foothold back home
Some 64% said the lockdown had influenced their decision to buy a property in their home country, writes Kate Everett-Allen. Demand is strongest amongst those expats located more than an eight hour flight from home.
The lettings market has rebounded, according to analysis from Tom Bill. The number of valuation appraisals for lettings properties in the week ending 6 June was the highest number on record and 19% above the five-year average.
On the demand side, the weekly number of new prospective tenants was 40% above the five-year average and the second highest figure this year.
Yesterday's trading update from Bellway provided some interesting insight into the practicalities of building homes with social distancing measures in place.
The company said sales rates dropped to 71 a week during lockdown, compared to 231 a year earlier, though pricing had remained firm and customer interest is returning as restrictions are lifted.
Darren Mansfield's analysis of Covid-19's impact on industrial markets reveals Knight Frank has registered over 6m sq ft of short term requirements since lockdown.
You can find an overview of key economic and financial metrics, compiled by Knight Frank's commercial research team, here.
If you have any questions, please contact me, or the team.