Property Market Continues To Bounce Back
Latest figures reveal that the English property market, is continuing to bounce back following the lockdown and continuing coronavirus pandemic.
The Yomdel Property sentiment tracker, has revealed that demand from vendors and landlords has risen to all time highs. This coincides with tenants and buyers also joining the hunt for their next property, as a result of the easing of lockdown restrictions.
For the week ending midnight 7 June, new enquiries from vendors seeking valuations soared 34% to hit 85% above pre-coronavirus levels as people swarmed back onto estate agent websites seeking immediate help and guidance to kick start stalled home moving plans, Yomdel, the leading provider of live chat for estate agents, said.
Andy Soloman, Yomdel founder and CEO, said:
“Volumes have been building rapidly in recent weeks but these numbers are incredible. What’s especially interesting now is that beyond sentiment, actual activity and reported transaction data is following the same course.
“We now expect to see record listings volumes which will help offset damage done during this crisis.”
“Estate agent website visitor volumes have now recovered to above pre-covid-19 average levels, and more people than ever are seeking to make contact via digital channels. Live chat on websites has emerged as the most important of these, with volumes of new business leads via live chat up 128% on previous averages.”
Linda Kirk, Director of Conveyancing at Adkirk Law, said:
“We’re now seeing a return to business as normal with buyers happy to conduct viewings within the government guidance and social distancing.
“Where a property is vacant there is no issue and certainly where properties may be occupied it only means the vendor either leaving the property for an hour or distancing as they would in normal circumstances.
“There’s no reason why the sale process can’t pick up for all parties as long as people are sensible but it must be within the guidance and with the safety of everyone in mind at all times.
“Virtual viewings are fine as a way of a first view but don’t replace the feel of a personal viewing and being able to see a property in the wider context of its surroundings.”
“There may be more barriers for first time buyers depending on access to finance and the flexibility of mortgage lenders but we hope lenders will see the benefits of being more flexible in these circumstances.”
Figures released by Zoopla reveal, that since the property market was re-opened and estate agents could once again begin to work within the new covid-19 norms, sales have surged by 137%.
Do you think this property market bounce back will continue indefinitely?