Post-lockdown demand from home movers, especially vendors, remained exceptionally strong in the past week as visitor volumes to estate agent websites broke through pre-COVID-19 levels and people sought immediate support online in greater numbers than ever before, the latest data from the Yomdel Property Sentiment Tracker (YPST) shows.
For the week ending midnight 31st May, new enquiries from vendors seeking valuations remained at record levels as people looked to kickstart stalled plans to move home.
Buyer interest stabilised at 100% above pre-lockdown averages, while there was a slight cooling in the rental market from landlords and tenants as earlier pent up demand is now being supported and resolved.
“We’re seeing this pattern of enormous demand not just from Yomdel, but also from Rightmove with record visitor numbers, and Reapit CRM recording estate agent office activity.
“Data providers are also reporting transaction figures are rapidly rising, meaning sentiment and actions are now moving more freely in synch,” said Andy Soloman, Yomdel founder and CEO.
“Importantly, this is happening online as clients tell us they are not seeing many visitors to their reopened offices.”
New vendor enquiries remained at record levels, nudging up 1.03%, or 1.4% points, to 137.28, equivalent to 37% above the pre-Covid-19 average to signal more and more people think its time to brave the market.
Buyers remained almost flat at their all-time-time record levels, dipping 0.78%, or 1.64 points, to 209.11, with demand now 109% above pre-covid-19 averages.
Landlords lost ground on the week, falling back 13.44%, or 19.50 points, to finish at 125.61, still 26% above the pre-covid-19 average.
Demand from tenants remain exceptionally strong, but cooled 10.77%, or 24.94 points, to finish at 206.67, still almost 107% above the pre-covid-19 average.
“We’ve been tracking this data now for eight weeks and the trends are clear.
“People are geared up to move, they are requesting online engagement channels such as live chat in numbers never previously seen, and they want digital solutions including video viewings and valuations,” said Soloman.