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Instructions just 3% off pre-Covid levels says industry research

Data from Coadjute also shows viewings are now very near normal activity and that the numbers of offers is also mounting as viewers convert to buyers.

Nigel Lewis

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It’s now been 49 days since the government re-opened the Coronavirus-bound housing market in England without warning, leaving many estate agencies scrambling to begin housing moves once more.

But it is only today that industry figures show that activity has returned to within a few percent of pre-Covid trading conditions.

A tech-based industry group formed by Coadjute says instructions, sold SSTCs, exchanges and completions are now on a par with levels prior to the 23rd March.

Its Property Market Insights report, which is based on information taken from leading agent and conveyancing CRMs including Reapit and Dezrez, reveals that the week ending 21st June saw instructions up by 5% and  viewings up by 4%. Both of these are now just a few percent off their pre-Covid activity levels.

Offers also continue to climb, up by 11% during the week to 21st June as active viewers convert to buyers.

Recovery

“Over the last three months, data from our partners has revealed both the unprecedented drop in the property market after lockdown and the impressive recovery,” says Dan Salmons (left), CEO of Coadjute.

“With levels of activity now returning to normal, and further easing of lockdown measures on the way, we hope the UK property market can start to look forward again.

The recently-launched Property Market Insights report is intended to provide unprecedented breadth and detail on every aspect of estate agent and conveyancer workflow from initial sales enquiries through to viewings, exchange and completion, and is designed to help property businesses align their operations as activity returns to the market.

June 29, 2020

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