Landlord activity down but tenant demand up
Landlords enquiry levels for property management and tenant services plummeted by 31% in the week ending 8th November 2020, Yomdel’s Property Sentiment Tracker found.
This leaves them at levels last seen in the depths of lockdown on 12 April and a huge 25% below the same week in 2019.
However enquiries from tenants seeking new rental properties rose 12% on the week to their highest level in four weeks, and 23% above the same week in 2019. Indications suggested demand is more focused on single or family occupancy and not on shared households.
Andy Soloman, Yomdel founder & chief executive, said: “It’s a really confused picture out there right now.
“Sales progression backlogs suggest up to half of sales agreed before the end of October are at risk of not being able to complete before the stamp duty holiday expires on 31st March, while the slump in landlords reflects how agents are telling us Covid fears are making it much harder to let out shared or multi-occupancy households.
“Estate agents in England are able to continue working under the latest England lockdown, and demand is very much there, but the shifting sands of differing coronavirus restrictions across the United Kingdom make it very difficult to forecast future trends.
“It does, however, appear that new enquiry levels are gradually settling towards levels normally seen at this time of year.