A recent study by Dataloft, into activity in the housing market since the first lockdown began in March 2020, shows how demand for housing gained momentum from the when the housing market re-opened in May, and then tailed off towards the festive period at the back end of 2020.
What is most surprising though, is how this activity suddenly soared during the start of the 3rd lockdown as the population realised they would once again be spending more time in their homes.
- The Dataloft Demand Index shows a 21% increase in housing market demand since the start of 2021. More people than ever are using the new year as a chance to think about moving house
- According to Rightmove, the number of prospective buyers contacting agents in January is 7% higher than a year earlier and enquiries about a property to rent are 14% higher
- Zoopla reported the flow of new supply onto the market in the first 2 weeks of 2021 to be down -12%. An imbalance between demand and supply can put upward pressure on house prices.
At Redbrick Properties we definitely noticed the 14% increase in rental enquiries, and in the face of new challenges this pandemic has thrown at us, with new technology such as Matterport 360° Virtual Videos, and a highly motivated lettings team, we smashed our total number of properties let over the same period last year. And this looks set to continue into February 2021.
If you are thinking of renting out a property, why not contact our team on 0113 2305552 for a free rental valuation, and see what your property could be worth.
Source: Dataloft Demand Index, based on visits to agents’ sites displaying Dataloft Inform local insights each week.