As expected at this time of year, we’ve seen a small decline in both the sales and rental markets in the run up the Christmas and the end of 2020. This is very seasonal and happens every year, we can see a similar line trend from 2019 in the graphs below:
So we can see that the Sales market is still seeing around 25-30% more new instructions and around 40-50% more sales being agreed than in the same time 2019. But we can see on all the above graphs that the seasonality has kicked in, with all lines dropping in line with 2019 drops.
Finally for this week, the number Fallen Through transactions are still a lot higher than in 2019, but we’d expect that with more sales being agreed in the first instance. And, ratio wise when compared to then number of properties being listed, a smaller percentage of properties are being withdrawn from the market altogether with no sale being agreed. We’re still in a market with a buyer overload. We’re going to need to see more sellers entering the market to keep this momentum up in the coming months.