Swindon House Market Picks Up As COVID-19 Lockdown Eases

Latest data reveals a notable uptick in new instructions and sales agreed and a lower rate of price reductions over the course of May.

Research by sell house fast experts Property Solvers has tracked key house sales data across the Swindon postcodes since the onset of the coronavirus lockdown.

Using the UK’s largest portal Rightmove, they observed the number of new instructions, sales agreed and price reductions since the start of March shortly before the country hunkered down.

The data for the last three months is presented in the chart below:

According to Property Solvers co-founder Ruban Selvanayagam, “as the lockdown came into full force, the volume of new instructions across the region took a predictable turn for the worse.”

In May, across Swindon (SN postcodes), there were 566 new house sale instructions in sharp contrast to the 1,208 seen in May 2019.

“With strict social distancing rules in place, estate agents were unable to conduct viewings and conduct their day-to-day business in the normal way.  Although conveyancers and mortgage advisors were able to operate remotely, the industry effectively froze,” he commented.

However, as the coronavirus-related infection dropped, the death toll tapered and some of the lockdown measures were eased in May, the market has clearly started to pick up again.

Selvanayagam underlines that although we’re clearly not out of the woods, these are encouraging signs.

“As is being advised across all sectors, now’s the time for agents and those operating in the industry as a whole to take extra precautionary steps - particularly as there’s no certainty that a second wave of infections will not come our way.”

Journalist Notes:

• The above graph can be designed / amended in line with your own publication’s editorial guidelines / colour schemes;
• We appreciate the COVID-19 situation is continuously evolving and are happy to send real-time data as and when requested;
• We can also produce the above data for any postcode area across England and Wales;
• The co-founders at Property Solvers (James Durr and Ruban Selvanayagam) have over 17 years experience in the property buying, selling and rental space and are available for comment;

Email Ruban Selvanayagam at [email protected] and James Durr at [email protected].