The prolonged heatwaves across the UK have dampened housing market activity this summer, with estate agents predicting a slower-than-usual holiday season despite remaining busy progressing agreed sales.
Research from GetAgent.co.uk finds that 78% of agents expect overall market activity to underperform a typical summer, with viewings and buyer enquiries hit hardest by the recent spell of hot weather.
The survey of UK estate agents shows that summer holidays already bring a natural slowdown, with 64% of agents reporting fewer sellers coming to market during the school break. Nearly half of those say the reduction is significant.
Buyer activity also cools over the holidays, with 58% of agents seeing fewer new enquiries, although transactions already in progress continue to keep negotiators occupied.
VIEWINGS FEEL THE HEAT
This year, however, agents believe the weather has compounded the seasonal lull.
An overwhelming 91% say periods of particularly hot weather have reduced activity in their local market, with 55% describing the impact as significant. More than half identify property viewings as the area most affected, ahead of buyer enquiries and seller instructions.
Despite fewer new listings and enquiries, 74% of agents say they remain as busy as usual – or busier – progressing sales agreed earlier in the year.
STAFFING PRESSURES REMAIN
The summer slowdown has not eased operational pressures, with 45% of agents saying staff holidays make workloads harder to manage and 27% reporting a significant impact on efficiency.
Colby Short (main picture, instet), Co-founder and CEO of GetAgent, says: “Summer has always brought a natural lull to the property market as families head away and attention turns to the school holidays, and the prolonged hot weather we’ve experienced this year seems to be adding another layer to that seasonal slowdown, particularly when it comes to viewings and the level of buyer activity we’re seeing across the market.
“However, what’s interesting is that this isn’t necessarily translating to a lack of seller intent. At GetAgent, we’re actually seeing a healthy level of activity, with around 6,000 seller introductions delivered across our partner network in the first week of August alone.”
“The important point is that quieter doesn’t mean inactive.”
“For agents, the important point is that quieter doesn’t mean inactive. There are still serious buyers and sellers in the market and, at the same time, many agents remain busy progressing transactions that were agreed earlier in the year.
“It highlights why maximising every opportunity that comes through the door is so important, not just during the summer but throughout the year.
“Those with the processes in place to respond quickly, nurture every lead and make the most of genuine buyer and seller intent will be best placed to keep their pipelines moving regardless of what the market, or the weather, throws at them.”
