The latest figures from GetAgent’s real-time property market dashboard show a number of positive trends where returning market health is concerned, with its overall market health index increasing to 4.3%, up from 3.4% in April.
Just 22% of home sellers are now extremely concerned about the impact of COVID-19 on their sale; down from 33% in April. In addition, just 16% of buyers state they would now refrain from offering on a property in current market conditions, down from 43% in April.
The latest results also show industry confidence has returned, with 15% of agents concerned about the impact of the pandemic on the industry as a whole, again dropping significantly from 28% in April. A notable 96% expect to be able to progress on their sales now the market is back in business to an extent, up from 75% in April.
In the two weeks since the market reopened, listings reaching the market have increased steadily week on week, although they are yet to reach pre-pandemic levels.
However, buyer interest remains strong, exceeding pre-pandemic levels for the seventh week in a row. The number of buyer and seller search terms on Google has also seen upward movement with home seller leads also on the up.
Founder and CEO of GetAgent.co.uk, Colby Short, said: “There remains a long road ahead, however, with industry lockdown restrictions now lifted there is no doubt that things are looking up with buyer demand, sentiment and available stock all now building across the UK market.
“In the week’s following the implementation of the lockdown, available property stock all but vanished overnight and the market ground to a halt. However, early signs suggest that the market has rejuvenated almost as quickly as it declined, with the vast majority of the UK seeing an uplift in activity.”
He added: “While we’ve highlighted the areas to see the largest influx of properties for sale in terms of quantity, it’s important to note that every area is really its own unique market in itself.
“So while some smaller or more rural pockets may have only seen an increase of five to 15 homes reaching the market this is still quite notable. In fact, these areas have seen some of the largest uplifts in market activity when considering the percentage increases in new stock when compared to the week before restrictions were lifted.”