The good news this week is that we’re still seeing volumes of new instructions and sale agreed properties growing week on week. With volumes of both sets of sales data now being higher week on week than the beginning of March before COVID-19 brought the market to a firm, abrupt halt.
The Rental market across the UK is also in the same boat as the Sales market, with volumes of property coming onto the market up 10% from the first week in March, and Let Agreed properties being up 15%.
Fallen Through Transactions
This week I’ve also had a look at the number of fallen through sales transactions. While the number of transactions that fell through dropped during lockdown, when restrictions began to be eased, it may not be a surprise to see that the volume falling through went up again. Most certainly this is because a number of movers had to reconsider their purchase or sale due to changes in their circumstances resulting from the virus. We’re still seeing a slightly higher number of fall throughs UK wide each week when comparing week for week with 2019:
Fallen through transactions may well be a great market to target for storage purposes. Depending on where the transaction is in the process, the owner may well have started to pack up their belongings. Are they likely to unpack or leave them in boxes? And if they’re left in boxes, do the consumers want the boxes out the house while searching for a new buyer? Would this information on fallen through properties be useful to your business? We’re getting the data added to MoverAlerts.co.uk right now, so get in touch now if you’re interested.