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PROPERTY MARKET INDEX

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Saturday 25th July – Friday 31st July (25.07.2020 – 31.07.2020)

Bitesize Property trends

  • SSTC has not dropped below 29,000 in the last eight weeks.

  • Fall throughs have remained above 5,500 for the last two weeks.

  • New properties coming to market are at their highest rate since the beginning of 2020.

Index summary

The Property Index analyses the combined weekly activity from Rightmove & Zoopla. Powered by BuildYourMarket.

Data analysed:
Main period analysed: Saturday 25th July – Friday 31st July (25.07.2020 – 31.07.2020)
Comparative week: Saturday 18th July – Friday 24th July (18.07.2020 – 24.07.2020)

BRIEFYOURMARKET.COM’S WEEKLY PROPERTY MARKET INDEX – NEW PROPERITES COMING TO MARKET AT HIGHEST RATE SINCE THE BEGINNING OF 2020

Last week saw an increase in the comparative number of properties coming to market, with 9,872 additional properties being registered.

Properties changing status to SSTC saw a reduction on last week, with 9,670 fewer properties being updated as SSTC.

Withdrawals saw a comparative reduction on last week, with 5,920 additional properties being withdrawn.

Fall-throughs saw a slight comparative reduction on last week, with 153 fewer properties changing status from SSTC back to For Sale.

The top ten most impacted postcode areas for fall throughs in this period were: LU2, BN3, FY4, BN11, PR2, WF10, CR0, NR31, S66 and BS3.

Commenting on the period – 25.07.2020 – 31.07.2020 – BriefYourMarket.com’s Chief Commercial Officer – Richard Combellack – said:

“Last week’s activity illustrates the knock-on effect of the recent ‘miniboom’ (to coin a phrase from Rightmove), with properties coming to market at a record level since the start of the year. SSTC also remains high this week and has not dropped below 29,000 in the last eight weeks, which is great news for all.

It’s clear to see that the further re-opening of the UK market as whole, stamp duty changes and the positive index reports from the portals are all having the desired effect on the public. Average asking prices are at record highs, listings are progressing to sale agreed in record time and the mortgage market continues to incrementally recover week-on-week.

From a marketing perspective, all of this is information is gold. It is crucial that agents are making every potential homemover and homeowner aware of the good news.”

SSTC: (Total = 38,510) -22.3% decrease when compared to the previous week, with 9,670 fewer properties being updated as SSTC. Busiest day in this period was Wednesday 29th July when 9,984properties were updated as SSTC.

Withdrawn: (Total = 10,033) -45.5% decrease when compared to the previous week, with 5,920 fewer properties being withdrawn. Busiest day in this period was Wednesday 29th July when 4,198 properties were withdrawn.

Fallen through: (Total = 5,503) -2.7% decrease when compared to the previous week, with 153 fewer properties falling through. Busiest day in this period was Wednesday 29th July when 1,537 properties fell through.

Count on market: (Total = 74,292) +14.2% increase when compared to the previous week, with 9,872 additional properties being listed. Busiest day in this period was Thursday 30th July when 21,281 properties were registered.

Leicester, Leicestershire, and Rutland are performing incredibly well, even with

Leicester’s localised lockdown still in place. We have seen no difference in prices pre and post lockdown, with many new instructions coming to the market.

Our sales teams are registering new buyers every day and during June arranged 472 viewings.

We are following Government guidelines with regards to face-to-face viewings in Leicester’s lockdown zone and are hoping this will be lifted next week.

Obviously, the Stamp Duty holiday will entice more people to consider moving, that along with people revaluating what their property requirements are during this difficult time we have all been through. Our commitment to providing our clients with the right advice remains the same.

Jonathan Cameron

Director | James Sellicks Estate and Letting Agents

“On the lettings side of the business, the worry was that when agents began to operate again from mid-May, the pent up demand from tenants looking to move or rent properties was going to be a one off before the market subsided as lockdown and furlough were still in place.

As predicted, June was our busiest month for a number of years, however, this has also continued into July too and is showing no sign of slowing.

We have continued with providing 360-degree virtual tours, and Facetime viewings and appraisals have been – and will continue to be – very popular. During the period of lockdown, we made the decision to offer a sales service and have already generated a substantial amount of activity in this area. The Stamp Duty holiday will encourage more people to move home in the coming months too.

All things considered, the market in Derby and Burton on Trent is looking very healthy.” 

Daren Cope

Director | Professional Properties