Report reveals encouraging signs for estate agents
- By editor
- 10 minutes ago
- 1 min read
Propertymark’s latest housing-insight report has revealed a pick-up in buyer activity and sales agreed during March.
The property-agent membership body said that increased stock levels were boosting choice, despite continued affordability pressures.
Sales agreed per member branch increased in March, to an average of 8.14. The average number of viewings per available property jumped in that month, compared to the month before, to an average of 2.8 viewings. On average, per member branch, there were around 10.1 homes placed for sale during March.
New prospective buyer figures showed an increase towards the end of the first quarter, to an average of 78.2.
On the lettings side, it reported that the market remained competitive, referring to tenant demand outpacing supply and regulation fears affecting landlord confidence.
Nathan Emerson, chief executive of the property-agent membership body said:
“March was a month that delivered some encouraging signs across the housing market, with sales agreed, buyer registrations and viewing activity all moving in a positive direction as we entered the traditionally busier spring period.
“Although inflation remained above target and global economic pressures continued to influence sentiment, we saw many buyers adapting to current borrowing conditions and proceeding where pricing expectations were realistic.
“We also saw improved levels of stock entering the market, which was helping to provide consumers with greater choice and creating a more balanced environment in some areas.
"However, affordability pressures continued to weigh heavily for many households, particularly as mortgage rates remained sensitive to wider economic events.”
