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.