Since restrictions in England were lifted on 13th May, throughout the UK we’ve seen:
- 35015 new instructions to the market For Sale
- 21404 sales agreed
- 58148 properties come on to the Rental market To Let
- 34117 residential tenancies agreed
In the week commencing 18th May, we saw the number of new properties on to the sale market rise considerably to around 60% of the number we saw in the first week in March 2020. The number of sales being agreed also jumped to 45% of the number agreed in the first week of March.
A few weeks ago, I reported on the number of Sales that are in the process of a transaction. At the time (23rd April 2020), there were just over 310k transactions proceeding, with 150k of them having had searches ordered by the purchasers. As I write today, there are now around 246k transactions UK wide with sales agreed on them. Of this, 141k have had searches ordered. The number of properties currently on the market listed as For Sale hasn’t really changed in this time, from 454k in April to 447K currently. With some vendors having to sell due to changes in their work and pay situation, this has left a good stock of property on the market.