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TODAY'S OTHER NEWS

Corona Uncoupling: Agency says divorces will help housing market

An estate agency says the housing market could get a boost as a result of couples separating after the prolonged togetherness of lockdown.

Quoting figures from the Co-Op Legal Services, the Birmingham-based Barrows and Forrester says divorce has been exacerbated by the lockdown - a silver lining for the agency industry.

“With such a notable spike in the number of divorces, it’s very likely we will see a boost in the amount of stock reaching the market, and the value of homes sold” explains managing director James Forrester.

“The one positive of this is that we’ve seen a huge uplift in buyer demand since the property industry reopened last month but a continued hesitance by some sellers to list and this stock boost should help meet this demand while helping keep house prices buoyant.”

The Co-Op says there’s been a 42 per cent increase in divorce inquiries between lockdown day on March 23 and mid-May, compared with the same period in 2019.

Barrows and Forrester claims that the market could see a boost of 38,346 homes entering the market if these additional divorces lead to the inevitable sale of the family home.

  • Nick Ferrand

    Personally, I’m not happy with this article. Quoting “A silver lining for the agency industry.” for Estate Agents to achieve more sales from family breakups is distasteful. Anyone who has been through a divorce will tell you how awful it can be for everyone, especially children. We all know the three D’s, but this is really NOT the time to be rubbing your hands with glee. Suggest this article is removed.

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