According to research from property market intelligence company, Dataloft, there’s a lot to feel positive about within the industry, with strong signs that consumer confidence is growing.
Understandably, there’s been a great deal of speculation about how both lockdown, and it’s subsequent effect on the economy, would impact the market, however the recent DataLoft Homemover survey suggests that the vast majority of those considering selling their homes before the pandemic, still plan to do so. On the basis that social distancing measures are enforced, a considerable 84% of vendors looking to sell their homes as quickly as possible claim they are either very or fairly comfortable with physical viewings taking place.
Just 8% of survey respondents have delayed their sale until 2021 and are insisting on digital viewings.
The sentiment is backed up by an increase of 111% in sales viewings booked last week. In fact, Dataloft’s Demand Index, which tracks the number of visits to agents’ local insight pages, showed a surge in interest in the week lockdown was lifted, climbing to 71% higher than a month earlier.
It’s great news for our sector, with the update to legislation on May 13th clearly having a huge impact on getting the industry moving again.
What does it mean for buyers and sellers?
Put simply, now is the time for buyers and sellers to respond to demand.
If you’ve recently put your property on the market, or were considering it before the coronavirus outbreak, it means that there’s appetite out there. Since the update a few weeks ago, people are now allowed to move home and have physical viewings, but this latest research is just confirmation that people are searching, and they are keen to take action, so you have every chance of attracting interest to your property.
If you’re looking to buy, it means there should be plenty of choice, and for those who prefer physical viewings, it’s good to know that most sellers are happy to arrange these.
However, it’s worth remembering as well, if you’re still not completely confident with physical viewings just yet, it is possible to have video viewings, as well as video valuations. This is something we can help you with, and we’re also happy to have video meetings to discuss your circumstances and requirements with you.
If you're looking to take advantage of this markets return, please get in touch with your local Balgores office. You can request a FREE valuation by clicking here.