What an incredible set of figures we are seeing from TwentyEA! Great property listings and great net sales, some of the best over the last eight years. For those who predicted ‘Armageddon’ not so long back in the property market, clearly things have changed and are likely to have changed permanently now based on the fact the property market did not collapse over the last few years, despite the rapid rise in mortgage rates.

Supply and demand data from each of the indices

Rightmove

“The number of sales being agreed continues to track positively against the quieter market of this time last year and is now 26% ahead of the same period in 2023. Meanwhile, the number of new sellers coming to market is 6% ahead of the same period a year ago. Rightmove’s real-time data can identify the immediate impact of external events on home-moving activity. The latest snapshot shows that a drop in the number of buyers contacting estate agents about homes for sale after the Autumn Budget has now been replaced by an uptick in buyer demand in response to the second Bank Rate cut. To put these trends into figures, in early October, before the Budget, buyer demand was 23% ahead of the same period in 2023. This figure dropped to +18% following the Budget but has now ticked back up to +23% following the Bank Rate cut. However, we do still expect the usual seasonal slow-down in home-moving activity as we get closer to Christmas.”

Halifax

“Latest figures continue to show improving levels of demand for mortgages, as an easing in mortgage rates boost buyer confidence. However, despite these positive trends, many potential buyers and movers still face significant affordability challenges and buyer confidence may be tested against a changeable economic backdrop.”

Zoopla  

“Sellers (and buyers) returned to the market over 2024 building a healthy stock of homes for sale, which has supported sales volumes. The number of new sales being agreed is ending the year strongly, as serious buyers look to lock in sales in order to beat the return of higher stamp duty rates from April 2025. Sales agreed are 19% higher than this time last year, with buyer demand 25% higher.”

Propertymark

“The average number of new prospective buyers registered per member branch saw an uplift in September 2024 to 96 per member branch, representing a two-year high.

“New supply, as measured by new sales instructions, nudges slightly downward compared to the previous month. On average, there are now around 13 homes placed for sale per member branch in September 2024.

“Stock levels reflect the average number of properties available for sale at each member branch. In September 2024, stock levels dip marginally with an average of 45 properties for sale at each member branch.”