A complex ‘sentiment tracker’ suggests demand is still strong in the lettings market.
PropTech supplier Yomdel publishes a weekly tracker index; it takes the baseline as 100, based on average rental market activity and pricing in the 62 week period before the late March 2020 lockdown began.
The tracker index then plots movements based on live chat, enquiries and business leads.
The latest index shows that landlord activity – chats, enquiries and leads – is running some 39 per cent above the long-term pre-Covid average.
Tenant activity is even stronger – 55 per cent above the long-term average.
Andy Soloman, Yomdel founder and chief executive, says: “This is a unique moment which brings little respite for flat-out agents. People are telling us they want get cracking on stalled moving plans, while at the other end people are urgently trying to bring forward plans due to uncertainty for later in the year and fears of a second wave and another Coronavirus lockdown.”
This post has originally been featured in Letting Agent Today.