Estate agents see uplift in property viewings as buyers rush to beat stamp duty hike

| Marc da Silva

Estate agents report that the property sales market is seeing a trend unlike those historically seen across the winter months, with buyers and sellers, especially across England and Northern Ireland, pushing their sales and purchases through to save potentially thousands of pounds before the changes to Stamp Duty thresholds take effect from April 2025.

The Propertymark report, based on data provided by around 100 sales and 100 letting agents across the UK, reveals the following:

UK sales volumes increased

Sales volume data is a lagging measure which reflects the UK residential sales transactions completed in the month. The provisional October 2024 non-seasonally adjusted sales volume estimate was 23% higher than in October 2023.

Stock level edge upwards

Stock levels reflect the average number of properties available for sale at each member branch. In October 2024, stock levels climbed marginally with an average of 49 properties for sale at each member branch.

Residential lettings

Tenant demand drops

The average number of new prospective tenants registered per member branch indicates market demand. Registrations dropped to 93 in October 2024 compared to 113 in September 2024.

But demand continued to outpace supply

Overall, demand continues to outstrip supply, with the average number of applicants per member branch still hitting around nine people for each available property in October 2024.

You can download the full report here.

 

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