Sales agreed among Propertymark members hit a four-month high in February but the agency trade body has warned of a quieter period in the run up to the traditionally-busier spring market.
The organisation’s latest member data showed a 19% rise in sales agreed per member branch during February at almost eight.
New supply has increased by around 18% on the previous month, with around 10 homes placed for sale per member branch in February.
But Propertymark members warned that buying numbers and viewings stalled in February, while the number of agents selling homes at below asking price is on the rise again.
Nathan Emerson, chief executive of Propertymark, said: “Interest rates remain challenging,
“GDP has stagnated and broader economic indicators, such as mortgage arrears are trending upwards.
“However, there is light at the end of the tunnel, with inflation continuing to fall. In the residential sales sector, demand has temporarily slowed following the January post-Christmas bounce. On the supply side, our members are busy with new instructions, which is increasing stock levels. This imbalance may lead to further price corrections but only in the short-term.”
With new and exciting PropTech solutions approaching the market, Nathan Emerson,...
Agency sales supply and demand dipped in May as buyers and...
The number of market appraisals and sales agreed among estate agents...
Record number of sellers came to market on Boxing Day, according...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
.jpg){kind=avatar}
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment