Reply To: Sales volume weekend of 10 May 2020

Home Forums Property Market Research Q&A Sales volume weekend of 10 May 2020 Reply To: Sales volume weekend of 10 May 2020

#25260
AlexAlex
Keymaster

Hi GK.

I agree with you that there are other factors than the number of people at inspections and auctions. Particularly prospective buyers deciding to ‘wait out’ and observe the COVID situation.

There is also a considerable time lag between an inspection, prospect buyer making an offer and the sale taking place. Restrictions pretty much blocked the first link in this chain of events. As restrictions are easing we expect the sales to ramp up gradually with a lag of approximately 2-3 weeks.

In fact you can see that it took 2 weeks for the sales volume to reduce after the restrictions were imposed. It is reasonable for the reverse to occur 2 weeks after the restrictions are eased.

I will publish an updated chart in 1-2 weeks for better clarity.