The Surrey town has seen the sharpest fall in properties listed for sale since the market was brought to a near standstill when the Government ordered the closure of estate agents’ offices and halted house moves. GetAgent.co.uk has released an interactive real-time dashboard of how the market is performing under the pressure of the lockdown, both nationally and at postcode level.
The estate agent comparison site has now released data looking into which areas of the UK have been hit the worst.
Its findings are based on the reduction of property stock hitting the market as online listings when comparing pre and post lockdown listing figures.
And it found that the worst-hit area has been Woking, where there were 337 total property listings posted in just over a month prior to lockdown but just 18 new listings, a reduction of 95 percent.
East Renfrewshire, East Dunbartonshire, Three Rivers (-94 percent) and Ely (-93 percent) are also amongst the areas to see the largest decline in property stock hitting the market.
Hillingdon and Bromley have been the worst hit London boroughs with a drop of 91 percent.
GetAgent.co.uk founder and CEO Colby Short said: “The varied list of areas to have seen both some of the highest and lowest levels of listing decline demonstrates the varied makeup of the UK market, as well as the erratic impact the spread of coronavirus is having on home seller sentiment.
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“In some areas, such as Woking, the market has pretty much dropped off a cliff since the lockdown was implemented, whereas other areas have seen a decline but continue to register more robust levels of new listings.
“This is certainly due to influences such as a high concentration of new-builds, with many developers having to keep selling due to the fact that they have money tied into developments and interest repayments to make.
“Many new build developers also have the benefit of selling empty properties which makes social distancing measures easier, while many new build buyers, particularly those from overseas are happier to transact based on a virtual viewing.”