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Research shows huge pent up demand for property

Published: 10/02/2021

At Sowerbys we take part in a benchmarking program, so we can measure the numbers of people who visit versus over 100 other estate agents’ websites across the country.

Looking at the graph as we do at the beginning of every new month was a bit of a shock. January 2021 has shown a higher number of visits to our website than in any other month last year.

When you take into account the pent up demand we had when the first lockdown restrictions began to ease during May, which then built during June to a peak during July, August and September, this is quite staggering.

Key: Blue = Sowerbys users
Red: All Agencies Averaged

The record January visits show us that there is still a huge desire to move this year, much higher than average and this continues to be brought on by many factors.

There are not many people who haven’t re-evaluated their lives in the past year. For some this has meant downsizing, others upsizing to gain more living space and an office! People want to live closer to amenities or indeed want to be further away from towns and cities and nearer the coast or countryside. Being closer to family has also been high on the list of reasons. There are countless other personal reasons people want to move, all of which have contributed to the record numbers of transactions last year.

The main issue the property sector faces at the moment is a lack of stock. At Sowerbys within the last week we have had a number of properties which have exceeded their asking price, leaving many disappointed buyers.

In a nutshell, there are too many buyers and not enough sellers. So, although as we write this the east of England is covered in a blanket of snow and most would-be sellers are thinking this is possibly the worst time to look at selling, everything we see shows there has never been a better time.