Coronavirus Update 5
It's been three weeks since our last update on market activity, so we thought it time for a further short update.
Other media have reported that property sites Rightmove and Zoopla have been recording record levels of traffic, suggesting that property market restrictions being eased in England has released some pent-up demand.
That's certainly been our experience too. The graph below shows Google search volumes since the beginning of March:

The steady upward trend following the Goverment's announcement of the easing of the market restrictions is clear, with search volumes last week exceeding those of the first week of March, and indeed have been above the corresponding week last year.
It would probably be naive to suggest that things have recovered and the market back to normal; much will depend on how the Covid-19 infection rates develop over the coming months, how quickly the economy recovers, and whether there is a second economic shock to come as Government support to companies and workers is reduced.
But there does appear to be reasonable grounds for optimism in the short term at least.





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