Housing market kick starts with rise in visits, new listings and enquiries.
Finally, some good news for the housing sector arrived last week.
All buyers and renters will now be able to complete purchases and view properties in person, while estate agents, conveyancers and removals firms can return to work while following social distancing guidelines. More information on the current guidelines can be found here.
Following the easing of restrictions there are some promising statistics coming out of the property sector. Homemover visits to Rightmove returned to pre-lockdown levels on Wednesday 13th May with almost 5.2 million visits, up 4% on the same day a year ago. Early signs show a surge of home-mover activity, including*:
- Visits to Rightmove were up 45% on Wednesday morning compared to the previous day following the government’s surprise announcement to reopen the housing market
- Email enquiries sent to agents rose by 70% now that physical viewings can again take place
- New listings are also starting to rise, with 2,115 new properties added in just five hours
Rightmove’s Housing Market Expert Miles Shipside commented: “These are clear signs that the news from the government has prompted more home-hunters to start looking for their next home, and we anticipate further uplift in activity once agents have time to adjust to the new social distancing guidance specific to the home moving sector. Home movers who have been eagerly waiting to take their home moving plans to the next stage should show some patience with agents given the unexpected announcement, to ensure there’s time to adapt to the new guidelines and ensure everyone is kept safe.”
What is the ‘new normal’ for home viewings?
Buyers, sellers and agents are adapting to a seismic shift in the way property is marketed and viewed, by adhering to the Government’s strict guidelines on home moving during the Covid-19 pandemic.
Virtual viewings are encouraged in the first instance, as the number of physical viewings allowed per day is restricted. Estate agents, who are required to wear masks and gloves, are sanitising doors and switches before and after viewings, while homeowners must vacate the property while viewings take place.
If you are looking to purchase a property or remortgage, our Mortgage and Protection Adviser Eddy Chow can help. Eddy can provide whole of market solutions and has access to exclusive products, ensuring you receive the best deal possible on your mortgage.
*The data in this article was provided by Rightmove. Whilst we take responsibility to ensure that the information contained within this promotional material is accurate and up to date, we do not accept any liability for any errors or omissions. If you are in any doubt as to the validity of information made available, we recommend you seek verification by contacting us in the first instance. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Kellands (Hale) Limited is authorised and regulated by the Financial Conduct Authority.