Zoopla reports 70 per cent dip in property sales during pandemic

A homes listing site has revealed that property sales in the UK have fallen by 70 per cent since the beginning of the country’s coronavirus lockdown.

Zoopla has said that the dip started on March 23, when the government advised the public against moving house during the pandemic.

The number of homes on the site is only 1 per cent lower than it was before the measures.

Over the past week, there has been a rise in people browsing properties - but still a lack of deals being made.

Richard Donnell, Zoopla’s research and insight director, commented: “There has been no mass withdrawal of homes from the market as agents and consumers adopt a wait-and-see approach.

“The closure of estate agency branches and general uncertainty has resulted in far fewer sales agreed in the last two weeks, with less new supply coming to the market.”

The government’s guidance against moving house advised that there was “no need to pull out of transactions”.

However, it added that if the property is occupied, it “encourage[s] all parties to do all they can to amicably agree alternative dates to move.”