The number of home valuations being requested by homeowners has risen by 26% this spring despite the uncertainty in the market created by Brexit and tomorrow’s General Election.
Call answering company Moneypenny logs the calls made to agents via its service and says valuation requests for March, April and June this year increased when compared with the same months last year.
“It’s encouraging to see such a large increase in people wanting to book home valuations this spring,” says Samantha Jones, the company’s Commercial Manager.
“There was so much activity that affected the property market last year such as the Referendum in June and subsequent changes in Government that people will have been cautious about progressing with sales.”
Moneypenny’s figures also appear to show increasing interest among buyers; it says call requesting property detail increased by 9% by the same measure, while calls to book property viewings rose by 8%.
“The ‘let’s sit tight’ attitude of last spring is ebbing away as home sellers and buyers return to market,” says Samantha.
“The truth is, regardless of political changes, we still get married, divorced, have children and so on. Our needs don’t go away so the market has to move so we may be about to see more on the market.”
Calls from landlords requesting valuations also cranked up, rising by 13%, reflecting recent ARLA Propertymark figures which revealed that a third more buy-to-let properties were being sold by landlords per member branch.
“There are a number of possible reasons why valuations on lettings properties are up too.” says Samantha.
“Landlords could be feeling the squeeze from bigger tax bills and are looking to get rid of stock, particularly as buy-to-let lending dropped by nearly 80% year-on-year in March, according to figures from the Council of Mortgage Lenders. Either way, we expect the rise in people calling to book viewings to continue to climb over the summer months.”