Continued coronavirus restrictions on property market activity hit sentiment in the past week with consumers pausing for breath after driving weeks of stellar growth in new home moving enquiries according to the latest data from the Yomdel Property Sentiment Tracker.

For the week ending midnight 10th May, new enquiry volumes from landlords were hardest hit, dropping by 17 points to lose the gains made the previous week, while vendor lead volumes also dipped.

Buyers marked a modest gain and tenant enquiries were flat, although staying at an all-time high.

Andy Soloman, Yomdel founder and CEO said:

“It’s only natural that the incredible growth in recent weeks should slow.

“Time will tell whether this plateauing is simply a pause, or perhaps reflecting frustration that agents are simply not able to help many people, or people are waiting for greater clarity from the government on how and when the lockdown will ease.”

New vendor enquiries dipped for the first time since lockdown began on 23rd March by 2.2% or 1.87 points to 83.26, and while still down on the pre-COVID-19 average, they are up 141% from the low when the lockdown first hit.

Previous booming buyer demand slowed to a trickle, finishing the week 2.34 points, or 1.86%, up at 127.97.

This some 28% above the pre-lockdown average and nudges them closer to the 2020 high of 135.63 reached on 26 January.

Landlords recovery stalled and they lost gains made in the previous week finishing down 19.49 points, or 17. 31%, at 93.13, back again below the pre-COVID-19 average.

The previous growth seen in tenant enquiries almost halted, with a small rise of 1.17 points, or 0.6%, to 194.99.

Tenant demand remains at almost double the pre-lockdown 62-week average at 251% above their lockdown low.

“It seems a little bit of caution has returned, but make no mistake, in the face of a constipated market, demand from estate agent customers remains incredibly buoyant.

“Any agents worried about the future need to be engaging with and supporting these people now when they need most help in anticipation of blockages eventually clearing,” said Soloman.