Upmarket agent Jackson-Stops & Staff has reported that exchanges across its network are up by 40% and properties under offer by 20% on a year ago. Sales prices are up 19%.
New chairman Nick Leeming says it has been a fine summer for the organisation, which describes itself as a ‘democratic consortium’ owned by its agents.
In its latest figures covering June, July and August, Jackson-Stops & Staff – which has 40 offices largely specialising in country homes across the UK – says there was strong momentum in June and July.
While August figures were slightly lower, reflecting the holiday period, exchanges were still up by 15% and properties under offer up by 9% on August 2012.
During the three summer months, new applicants increased by 29% but the number of instructions went up by only 4% – reflecting the ongoing stock shortage problems reported by many agents.
Leeming, founder of Propertyfinder (now Zoopla), who took over as chairman of Jackson-Stops & Staff this week, said: “We have enjoyed the best summer since the recession across all our offices, although there are some regional variations.
“The market has been particularly strong in commuter areas such as Sevenoaks, Winchester and Newbury, and in West Sussex in and around Chichester, Midhurst and Arundel, reflecting a trend for people to move out of London in search for family houses and a change of lifestyle.
“Our offices in the stockbroker belt of Wilmslow and Hale in Cheshire, and in Chester, have enjoyed an excellent quarter. The West Country, East Anglia and central England have also seen a substantial increase in sales, the result of downsizing, people buying second homes and relocating.
“With prices up by 19%, a strong increase in the number of people registering to buy, and the number of instructions up by only 4%, we are seeing a return to more normal levels of market activity, but still a long way from a nationwide property boom.”
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