Belvoir Group PLC’s (LON:BLV) Dorian Gonsalves says the re-opening of the housing market by the government has come earlier than expected.
The ban on people moving and renting houses was lifted on Wednesday, two months after the lockdown was introduced but a month earlier than it was budgeting for.
Gonsalves expects a swift recovery especially on the lettings side as this is a fast-moving market and people might have been fed up with their house during lockdown, while landlords will be keen to get voids filled as soon as possible.
Belvoir has also so far seen a far lower level of arrears than it predicted when the lockdown was introduced.
Related: Belvoir Franchise
Gonsalves adds it did not lose one franchise to financial distress during the lockdown period, underlying the strength of its network.
By Andrew Scott
Source: Proactive Investors