Agents told to prepare for post-lockdown rentals rush

24 March 2021 | Renting

Agents told to prepare for post-lockdown rentals rush

Agents must be ready for an influx of new business according to outsourced telephone and live chat service Moneypenny.

Its latest figures highlight a steady five per cent average weekly increase in enquiry volumes since the start of February and also show the peaks and troughs of call volumes since the pandemic started.

Despite the property market being closed during the first national lockdown (March 26 to June 1 last year), calls only declined by a third compared to pre lockdown – but in the week immediately after lockdown, volumes increased a hefty 114 per cent.

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The sector saw an average 37 per cent increase in call volumes during the seven weeks that followed too – as the property market bounced back and on the sales side, home buyers capitalised on the newly announced stamp duty holiday.

The second lockdown (November 4 to December 2) showed a much less dramatic picture as the market stayed open, albeit with heavy restrictions.  

Property calls were just two per cent down during the four week lockdown compared to the 2020 weekly average and were only one per cent behind normal volumes for the time of year.

Moneypenny’s head of estate agency, Joanne Tattum, says: “This data shows just how turbulent the last year has been for property agents and how difficult it has been for them to anticipate and meet demand. 

“The data following lockdown two suggests that volumes will be more consistent as this lockdown ends – but spring is here, which is one of the busiest times for new instructions so this could make enquiry volumes much higher. We’ve already been seeing a steady five per cent increase in call and live chat volumes since the start of last month and we expect this to keep building.”

Established in 2000, Moneypenny describes itself as the world’s market leader for telephone answering, live chat, outsourced switchboard and customer contact solutions, working with more than 13,000 businesses across the UK.

This post has originally been featured in Letting Agent Today.