The latest BriefYourMarket.com Property Index (analysing the combined on-market activity from Rightmove and Zoopla) shows that last week saw a comparative increase on the previous week, with 6,957 additional properties being registered.

Properties changing status to SSTC saw a substantial comparative increase on the previous week, with 36,554 additional properties being updated as SSTC.

Withdrawals saw a slight comparative increase on the previous week, with 72 additional properties being withdrawn.

Fall-throughs saw a slight comparative increase on the previous week, with 109 additional properties changing status from SSTC back to For Sale.

The top ten most impacted postcode areas for fall throughs in this period were: CR0, BN27, GL2, NG5, CT9, DA1, BH23, BN1, LU2 and PO7

Commenting on the period, 08.08.2020 – 14.08.2020, BriefYourMarket.com’s Chief Commercial Officer, Richard Combellack, said:

“Last week’s figures illustrate the positive impact of the mini-boom on the industry and the wider UK economy in general, with SSTC and new properties coming to market both hitting new record levels since pre-lockdown.

“The usual summer-season slowdown has been turned on its head as people continue to prioritise moving home. The trends for sales agreed and new properties coming to market also show no signs of slowing down any time soon, which should bring immediate reassurance for the foreseeable of 2020 for many agents.

“Although the massive spike in SSTC is certainly unusual – especially for this time of year – sales agreed have been consistently above 38,000 per week for the last four weeks now, with new properties coming to market hovering consistently above 60,000 for the last five weeks.

“With record levels of buyer demand, pressure will now, undoubtedly, fall on the legal and financial services market. Patience will be required from buyers and sellers.

“In terms of withdrawals and fall throughs though, there have yet to be any real worrying trend fluctuations. Withdrawals have remained above 10,000 for the last four weeks, with fall throughs sitting above 5,500 over the last four weeks.

“This news is extremely positive for the industry and the economy. Again, the sheer amount of work that agents are processing right now should really be commended.

“In terms of marketing, right now is not the time to take your foot of the gas. There is an obvious demand for everything property related, and it is important that agents have all bases covered. We know that it is not just pent-up demand of pre-lockdown that is fuelling the market; more people than ever before are re-assessing their priorities.

“Undoubtedly, there are going to be home-movers in your database who are looking for an agent. It is time to get those local market reports out to them and help them make an informed choice.

“If you are agreeing sales quicker than the average time spent on market – and achieving great prices – make sure as many people know about your successes as possible and have direct access to your stock.”

SSTC: (Total = 76,637) +62.6% increase when compared to the previous week, with 36,554 additional properties being updated as SSTC.

Busiest day in this period was Friday 14th August when 21,759 properties were updated as SSTC.

Withdrawn: (Total = 14,081) +0.5% increase when compared to the previous week, with 72 additional properties being withdrawn.

Busiest day in this period was Friday 14th August when 6,282 properties were withdrawn.

Fallen through: (Total = 5,950) +1.8% increase when compared to the previous week, with 109 additional properties falling through.

Busiest day in this period was Friday 14th August when 1,474 properties fell through.

Count on market: (Total = 74,849) +9.7% increase when compared to the previous week, with 6,957 additional properties being listed.

Busiest day in this period was Wednesday 12th August when 17,366 properties were registered.

The BriefYourMarket.com Property Index is exclusive to Property Industry Eye and is published fortnightly.