Viewings down 50% due to Coronavirus

Jake Carter

March 17, 2020

mortgage products drop

Property viewings are suspected to be down 50%, rather than the 25% noted last week according to estate agent Jeremy Leaf.

However, Leaf outlines that this does not mean buyers and sellers are putting off moving.

He said: “For instance, we managed to secure four exchanges of contract on Thursday and Friday of last week. All parties asked the ‘what if’ question about completion but all decided to proceed nonetheless.”

Leaf stresses that caution is advised in relation to the upbeat housing market surveys, as events are fast outpacing optimistic market reports, many of which relate to events of a month or more ago.

Furthermore, Leaf outlines that he has not seen sales or listings being cancelled widely yet.

He added: “On the ground, most customers are just hoping the virus will be relatively temporary and not medium or longer-term.

“If employees are laid off or made redundant and businesses close then bigger decisions will have to be made and there may be a more noticeable market correction. But at the moment most seem to be hanging on in there.”

Sign up to our daily email