12 months ago, the unemployment rate in Hitchin stood at 1.6% of the working population, yet with Coronavirus hitting the UK, what impact will this rise in unemployment have on the Hitchin property market? As I have discussed a number of times in my articles on the Hitchin property market, this summer saw the Hitchin property market do exactly the opposite of what was expected when Covid hit. The Stamp Duty holiday added fuel to pent up...
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Roll the clock back to April 2020, and major financial economists and property market commenters were sounding the alarm. The very best-case scenario was a 5% drop in property values by the end of the year, and most were in the 10% to 15% range. They forewarned the Covid-19 stimulated recession would trim tens of thousands of pounds off the value of Hitchin homes. Yet the Hitchin property market seemed not to get the memo on...
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In the last few months, the Hitchin (and UK) property market has resisted and flouted every economist’s prediction. With the economy a shadow of its former self, unemployment set to hit 11.9%, the Government on track to borrow nearly half a trillion pounds to pay for Coronavirus support packages etc., all of this has had no effect on Hitchin homeowner’s enthusiasm or capability to want to move home. It highlights the influence of both the...
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