UK property sales rebound to pre-lockdown levels, says Zoopla

June 12, 2020

Man looks through window of estate agents to look at homes that are available on the UK property market

Property sales rebound to pre-lockdown levels across the UK, says Zoopla

The UK property agent has confirmed that pent-up demand has firmed up asking prices and property sales in England have swiftly recovered

According to Zoopla, UK property sales in most of England have swiftly rebounded to the same levels they were just before the lockdown.

Pent-up demand has also meant firmer prices, said Zoopla, with the average asking price of sales agreed in the last week 6% higher than the same week in June last year.

“Lower asking prices for homes sold over the lockdown period may drag down indices over May, but this new data suggests house price growth is set to remain positive in the next two months,” said Zoopla research director, Richard Donnell.

The scale of the bounce-back in demand is “unprecedented’” said Zoopla.

“New sales agreed have rebounded and are just 12% short of the levels seen in early March as buyers return to the market and agree to new purchases; we have seen the number of new sales agreed rise by 137% since the market reopened,” said Zoopla.

Zoopla found sales of higher-value homes had increased most, with transactions up 16% on early March for properties priced at £1m ($1.3m) or more.

Better-off homeowners within the UK property market are looking at “trading up for more space or moving to a better location,” according to the site.

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