A million ValPal leads proves market is picking up

by Craig Vile

Members of The ValPal Network (TVPN) have generated more than 1m leads so far this year – passing the milestone a month earlier than usual.

And our new figures show that the trend is showing no signs of slowing down.

“Looking ahead to Autumn and beyond, agents should prepare to be busy,” says TVPN director, Craig Vile.

“We know that more than 18% of online valuations will go on to instruct within five months, so agents should be concentrating on filling their pipeline for the end of the year.”

Craig puts the heightened market activity down to a more stable economy and, now that the election is done and dusted, an end to the political uncertainty.

“Times have been tough in recent years and the economy has suffered a number of shocks. When that happens, people tend to stay put and wait to see what happens next,” he says.

“But now, the election is behind us, inflation is under control and mortgage rates are coming down – with further cuts likely before the end of the year.

“Employment rates remain high and wages are now rising higher than inflation. This is filtering down to the homeowner who now feels confident that the time may be right for them to make their next move.”

Confidence is key

Zoopla’s latest House Price Index reported in August that the average estate agent listing homes for sale on Zoopla has 33 homes unsold - the highest level since 2017 and a seven-year high.

Many of these sellers are also buyers which is why sales agreed are up 23% year-on-year. All measures of activity are up annually, Zoopla said, with buyer demand for homes a fifth higher, while new supply is up 12% and total stock up 14%.

“In the end, confidence is the key,” says Craig.

“Uncertainty breeds stagnation. What our numbers show is that more homeowners are thinking about moving because they are checking out their online valuation and starting to do their sums with their next move in mind.”

“Zoopla’s latest figures show that in July, there were more homes for sale than in the last seven years and more sellers means more buyers.

“The truth is that buyer demand will get stronger as mortgage rates continue to fall.

“A further rate cut is expected before Christmas and some commentators are predicting house prices will go up 3% this year.

“As long as inflation continues to come under control, more mortgages will be available under 4% and affordability will improve further. Everything is pointing to the fact that the property market is gaining momentum.”

If you’d like to find out more about lead generation, nurture, marketing or our lead call service, please get in touch on 0208 663 4930 or email us at team@valpal.co.uk.