Almost 3,000 homes were sold each day in the UK, reflecting a 7% hike in the average workload for estate agents, new research has revealed.
Moverly analysed residential property transaction data from 2014 to 2024 and found that the total number of property sales in 2024 reached 1.09 million.
This averages to 2,984 sales each day, the highest daily transaction average since 2022, but still slightly below the pre-pandemic levels of over 3,200 daily transactions recorded from 2014 to 2019.
England and Northern Ireland saw annual increases of 6.9% in 2024, resulting in average daily sales of 2,512 and 69, respectively.
Scotland recorded an average of 272 daily sales, up by 6.8%, while Wales saw 130 daily sales, an increase of 5.6%.
The year 2024 experienced a late surge in property sales.
October and November were the busiest months, with daily sales of 3,590 and 3,481, respectively.
Gemma Young, CEO at Moverly, commented: “Estate agents are likely to face an increased workload this year, and perhaps even the heaviest load in many years should Labour manage to incentivise homebuying in the way they hope to with increased supply, more accessible mortgages, and a stronger national economy.
Please please please would you be specific in the information you supply! Is this sales agreed, exchanges or completions? Makes a big difference. If it’s completions from land registry data then it’s a reflection of the market six months before. Whereas if it’s sales agreed it’s at the sharp end of what’s happening. Without this detail the article is meaningless. This happens regularly across many of your articles. Take the Halifax article today. Is their information on mortgage applications, completions, mortgage offers, does it take into account any sales not through Halifax? Etc etc.
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Year Number of Property Sales
2014 919,020
2015 917,906
2016 922,065
2017 906,604
2018 875,085
2019 841,323
2020 742,727
2021 1,040,990
2022 739,103
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Good! It’s what we do, wouldn’t have a job without the sales!
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Foxtons released their 2024 trading statement last week and all areas of the business contributing to their best year since 2016. And that includes sales. This government hasn’t got a clue and with the public sector increasing at an alarming rate and the private sector diminishing on an equal basis UK tax receipts will be hard to come by as manufacturing and production moves overseas and the UK will be heavily reliant on imports if not already. So where can the government go now for a huge pot of taxation……….yes property. The penny will soon drop that they need the property sector more than ever, stamp duty, landlord rental income receipts etc. So expect a few U-turns come the spring budget !
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