Dataloft and Reapit have partnered to produce 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.
Reapit, is one of the industry’s leading estate agent CRM systems and aggregates enormous volumes of data on the UK’s residential sales and lettings markets. 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.
The Residential Real Estate Demand Monitor, the first edition of a quarterly publication, analyses the private rental market. Based on data from over 500 estate agency offices, this rental monitor focuses on demand signals in the rental market. In addition to rental value, the monitor incorporates three other metrics: number of new instructions, viewings and rentals. The report also assesses premiums for furnished lets and upper floor flats, comparing London with the rest of the country.
In the Lost potential report, Reapit mined their dataset, providing data on 100,000 properties taken off the market in 2017, either because they were sold, or withdrawn from sale.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 but as we build the series, seasonal and cyclical trends will become clearer.
Lost potential received widespread coverage in the national press and social media. The Residential Monitor was launched at the EA Master in October 2018 and featured in a number of publications including the front page of Lettings Agent Today, Property Investor and ARLA.