Property market booming in Lincolnshire post-lockdown

A combination of factors is being described including a change in how people from densely urban areas have expanded their needs after being stuck in apartments with little-to-no gardens or small “office” spaces for three months.

Trying to keep healthy and fit and working from home have presented their own problems – whereas many properties in Lincolnshire are cheaper while providing space or extra room.

Other factors include a cut to stamp duty, affordable prices, low mortgage interest rates as well as pent-up demand put on hold when lockdown began.

Tim Downing, of Pygott and Crone, which has offices across the county, said they had sold 185 houses in June and 200 so far in July – around 50 per cent up on where they would normally be.

He added there were enough viewings and enquiries to last the next two-three months.

“The market is very busy in Lincolnshire beyond the property market since the early 2000s,” he said.

“People are making better lifestyle choices, there are lots of gardens and outside spaces here compared to apartment blocks.”

He added inward investment in the region, along with increased house-building, were also feeding into the local economy.

The Greater Lincolnshire Enterprise Partnership wants to build 100,000 new homes by 2031.

Simon Bentley from Mundys said they had sold more than 145 properties from their Lincoln and Market Rasen offices in just 11 weeks.

He said June was the company’s best month ever – though July would, he added, surpass that.

He said the market had been building for a few years now, adding: “Pre-lockdown everyone was saying it was Lincoln’s Golden Era.

“Property prices in Lincolnshire offer excellent value for money. There’s an awful lot of investment coming into the county.

“All the signs are very positive. It’s very encouraging.”

Lincolnshire County Council’s economy portfolio holder Coun Colin Davie said the authority and its partners had spent seven years working with property and investment to “sell the advantages of Lincolnshire”.

“COVID-19 has created, not just in the UK but worldwide, a whole reassessment of where people want to live and what quality of life they desire,” he said.

“The big cities are the losers as they do not offer what we in Lincolnshire can.

“An amazing county, with open space, great schools and an amazing coast and heritage offer which is second to none. 

“We are a dynamic county whose time has come”