Coronavirus pandemic causing slump in sales and viewings

Sales and viewings through online estate agents are falling considerably now the coronavirus outbreak worsened, data from online estate agency Doorsteps indicates.

Its daily sales have fallen by 77% from the first week of March to the third, while there’s been a 51% drop in daily bookings for viewing properties.

Akshay Ruparelia, managing director, said:

“We are just trying to stay very lean and focus on getting through it.

“Demand to sell properties is not going to change, it’s just deferred, so when things pick up we could have a great few months.

“It’s about weathering the storm.”

He added that he feels lucky the firm is in its fourth year and has good volumes, while he is looking to retain staff during this difficult period.

Doorsteps suggested the situation is particularly bleak in London, where there’s been a 90.89% fall in property sales from the first week of March to this week.

Kindly shared by Property Wire