An ongoing poll of estate agents has revealed so far that up to a third of agent believe that between 61% and 80% of their frozen property sales pipeline will eventually exchange and then complete once the market re-opens for business.
The poll, by Stephen Chayter, co-founder of leading conveyancing platform MyHomeMove.com, also reveals that a quarter of agents expect up to 100% of their pipeline to complete, and 20% expect to see up to 60% move to completion.
The poll follows the results of a previous survey completed last week by Chayter that showed that, after the first four weeks of lockdown, some three quarters of agents believed less than 10% of their pipeline had fallen through because of the coronavirus pandemic.
“Of those remaining deals, two thirds of agents feel that there is a high likelihood of them reaching exchange of contracts,” said Chayter.
The results of both polls suggest that once the lockdown down has been lifted and existing deals can move to completion, a surge of house moving is likely to take place and a surge of cashflow will take place.
Yesterday Countrywide revealed that it had pipeline of sales worth £50 million, while earlier this week Zoopla estimated that across the whole of the market there are 373,000 sales that have sold subject to contract and are waiting for the coronavirus lockdown to end.
It also claimed that sales are continuing to be agreed in low volumes by purchasers who viewed ahead of the lockdown.