This report is the first output of a new collaboration with Reapit, which will combine Dataloft’s ability to analyse and visualise trends in residential markets, with Reapit’s rich repository of data on the housing market.
Reapit, is one of the industry’s leading CRM systems and, as such, it aggregates enormous volumes of data on the UK’s residential sales and lettings markets, from its estate agency customers. From the time an applicant begins a search, or a vendor requests a valuation, until a transaction is signed and completed, Reapit allows agents to record each step of the process. It is a very rich source of data and offers huge potential for greater understanding of national and local markets as well as insights into the sector.
Reapit mined their dataset and provided us with data on 100,000 properties taken off the market in 2017, either because they were sold, or withdrawn from sale. We analysed the data, segmenting and cross-tabbing by price band, geography, size of agent and time on the market, to look for patterns in the data. This first report is a snapshot in time but as we build the series, seasonal and cyclical trends will become clearer.
Lost Potential is intended to be the first in a regular series of reports that will examine different metrics. This research programme will improve transparency in the industry and inform debates about the structure of the residential property sector.
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