Estate agents see valuations requests rise by a quarter
Estate agents have seen calls to book property valuations rise by 26% this spring, according to Moneypenny.
In a study of its property calls, the telephone answering service reported the rise in valuation requests compared with like-for-like calls during March, April and May in 2016.
The findings are coupled with a 9% increase in calls requesting property details and an 8% increase in calls to book property viewings.
Samantha Jones, Commercial Manager at Moneypenny said: “It’s encouraging to see such a large increase in people wanting to book valuations for their properties this spring. There was so much activity that affected the property market last year such as the Referendum in June and subsequent changes in Government that people will have been cautious about progressing with sales.
“The ‘let’s sit tight’ attitude of last spring is ebbing away as home sellers and buyers return to market. The truth is, regardless of political changes, we still get married, divorced, have children and so on. Our needs don’t go away so the market has to move so we may be about to see more on the market.”
Calls from landlords requesting valuations on properties to let are also up 13% this spring in a like-for-like comparison with 2016.
Samantha added: “Calls are a good barometer of how an industry is faring, as it shows people taking affirmative action in the buying-selling process. There are a number of possible reasons why valuations on lettings properties are up too.
“Landlords could be feeling the squeeze from bigger tax bills and are looking to get rid of stock, particularly as buy-to-let lending dropped by nearly 80% year-on-year in March, according to figures from the Council of Mortgage Lenders. Either way, we expect the rise in people calling to book viewings to continue to climb over the summer months.”