A million leads proves there is confidence in the property market says the boss of an estate agency lead generation app.
ValPal is a property valuation app which sits on estate agents websites enabling home movers to generate a valuation of their property based on historic home data, property market trends, and a host of other factors including property type, tenure and location. The app captures contact data for those requesting an instant valuation, enabling agents to follow up directly.
Subscribers to the The ValPal Network (TVPN) have generated more than 1m leads so far this year, passing the milestone a month earlier than normal; with greater movement in the housing market being ascribed to political and economic stability according to TVPN director, Craig Vile.
“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. 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.”
Zoopla’s recently released House Price Index shows buyer demand is up 20% on the same time last year and new sales agreed are almost a quarter higher. Average prices are predicted to rise by 2% by the end of the year with buyers now paying an average 96.8% of the asking price – up from 95.6% last October.
“In the end, confidence is the key. 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.”
said Craig Vile, adding
“Zoopla’s figures show there are more homes for sale now than in the last six years. More sellers means more buyers and the trend is showing no signs of slowing. The next phase will see a greater number of first-time buyers feel sufficiently reassured to enter the market – then everyone will feel the benefit of that energy being injected into the marketplace. We know that over 18% of online valuations go on to instruct within five months. Looking ahead to Autumn and into the end of the year, (the market) should prepare for a busy period.
