£82 billion of property transactions are now on hold due to lockdown measures
Demand from would-be buyers fell by 70% in March according to Zoopla
Around 373,000 property transactions, with a total value of £82 billion, are now on hold due to coronavirus lockdown measures, according to estimates from Zoopla.
The majority of the sales, which Zoopla said are worth just under £1 billion in estate agency fee income, were agreed between November 2019 and February 2020.
They would have been set to complete between April and June.
Zoopla said the number of sales being agreed is running at a tenth of the levels recorded in early March, with volumes similar to what would be expected around Christmas time in late December.
The Government has said that, where a property is currently occupied, home-movers should do all they can to amicably agree alternative dates to move.
People can still continue to move in limited circumstances, such as in cases where the property is vacant.
Published: by Radio NewsHub