If you sit down and give it some thought, we have been in some form of a lock down for over a year! A year of our lives has been spent locked down.
Amazing when you really think about it.
So for that time, life for many has stopped.
No going to work, no going out shopping, no going to pubs, restaurants, no having people over, entertaining, a lot of no this and that!
As we begin to move towards the “new normal” as things will now be, there is a lot we all want to do that we couldn’t so for all this time. There is a pent-up demand for things, and we are going to release that demand.
The Sale of Properties
At the time of this writing, June 2021, property sales are soaring! And prices are on the rise, it is a seller’s market.
This in part again due to the lock down and no one being able to buy a property, or even view a property, except virtually, for a full year.
This huge demand and increase in sale prices may continue on for a while.
Initially when retails stores opened, they were busy! Sales were up, however, when you couple the nice weather of summer, and the fact our buying habits changes even more over the lock down, overall sales are seeing a slump.
We bought online for years now, and when we were in lock down, we bought online even more.
As consumers we adapt and change, and change we did with our buying habits.
Overall, retail in store sales are good, but they may never reach pre-pandemic levels for some.
Loans and Mortgages
While the demand for mortgages is up due to people buying properties, loans and lending in general took a huge hit during the pandemic.
Lenders had to work with their borrowers who may have lost their jobs, or been on furlough.
The holiday, travel, tourism, and airline industry as a whole were turned upside down by the pandemic.
Just last week Portugal went on the Amber list from being on the Green list. There were so many Brits in Portugal living the holiday life they have waited for, and had to scramble to get back home.
Other countries are suffering as well. Tourism is a huge, billions of Pounds a year trade. Airlines, hotels, resorts, all rely on it.
The demand is there for this to explode, but only when restrictions are completely lifted.
Supply chains for many manufacturers were severely disrupted during the pandemic. Building supplies is one area that has experienced this. Which in turn has caused prices to increase.
If you are a DIY person, or in the building and or construction trade, you know this. Getting building materials can be difficult, and expensive.
Restaurants and Pubs
Here is where we can see a change and adaptation to a service and product very clearly. Pubs and mostly restaurants had to change, and change to a mostly takeaway future. One that is still here, and may stay with us for a while longer.
We are also seeing an increase in prices, and not just with restaurants and pubs, but in all products and services.
Companies need to make-up for the loss of revenue during the lock down.
As we have seen, and will see even more, the lasting effects of the Covid virus will be with us for a while, possibly indefinitely.