Advanced bookings for house viewings have seen a 182% surge in the past month, according to property technology company Coadjute.
The report confirms that during the period between 2 March and 5 April, there was a drop at the front of the housing sales pipeline, with a 62% drop in estate agents enquiries and 83% drop in estate agents registrations.
In contrast, the back of the property sales pipeline continued to be strong, with the unusual situation of more transactions moving into exchange and completion than entering the offer stage.
During the last four weeks between 6 April and 3 May, the report suggested estate agents registrations and enquiries were up by 45% and 61% respectively, increasing by 18% and 32% in the last week alone.
Significantly, advanced bookings for property viewings saw an increase of 182%, and property offers an increase of 58%.
The analysis comes from Coadjute’s new property market Insights report, compiled with industry leaders, which include Dezrez, Legal Marketing Services, MRI Software, Reapit, Redbrick Solutions and Search Acumen, covering over 50% of UK estate agents and a material number of conveyancing firms.
The new report is intended to provide unprecedented breadth and detail on every aspect of estate agent and conveyancer workflow from initial sales enquiries through to viewings, exchange and completion, and is designed to help property businesses align their operations as activity returns to the market.
Dan Salmons, CEO at Coadjute, added: “We are proud to be working with our business partners (Dezrez, Legal Marketing Services, MRI Software, Reapit, Redbrick Solutions and Search Acumen) during the Covid-19 crisis to collect and analyse on the ground activity and trends for the industry and very much hope the data is helpful in aligning their operations for when lockdown finally ends.”
Gary Barker, chief executive officer at Reapit, added: “It is essential that we embrace technologies that can help us expedite recovery and growth throughout the property industry.”