Government mood music last week that the lockdown was to be relaxed led to a 24% jump in the number of properties being added to the sales market, it has been revealed, indicating that there is significant latent demand in the housing market.
This is despite the short week, during which bookings for viewings also rose by 11%, indicating that buyers clearly believed there was an imminent announcement due on a lighter lockdown.
The data comes from leading property technology firm Coadjute, which today launches an exclusive partnership with The Negotiator to supply the property industry with weekly snapshots of the housing market as the lockdown eases.
Its service monitors feeds from the UK’s high profile property software firms and takes data from half of the UK’s estate agents’ weekly listings activity to provide unprecedented breadth and detail on every aspect of estate agent and conveyancer workflow.
This includes from initial sales enquiries through to viewings, exchange and completion.
“We are proud to be working with our business partners Dezrez, Reapit, MRI Software, Search Acumen, Legal Marketing Services and Redbrick Solutions during the Covid-19 crisis to collect and analyse on the ground activity and trends for the industry,” says Coadjute CEO Dan Salmons (left), who until recently was Director of Innovation for Home Buying & Ownership at Royal Bank of Scotland (NatWest) Group.
“We believe the data shows that there is significant latent demand for property transactions, with customers eager to buy and sell properties.”
Gary Barker, Chief Executive Officer at Reapit, says: “It is essential that we embrace technologies that can help us expedite recovery and growth throughout the property industry.
“Reapit’s collaboration with Coadjute and partners will bring together both an exceptional level of industry knowledge and a leap in data mapping technology to offer detailed property market insights.”