Connells reports major upturn in viewings and instructions
Ian Fry, CEO of the UK's largest estate agency group, says market activity increased significantly in Q2.
Connells, the UK’s largest estate agency group, has seen a 15% increase in market appraisals, making the second quarter the company’s best for six years.
This new activity also led to a 14% rise in instructions compared to the same three months last year.
The group, which includes Countrywide and Hamptons, says that although Q2 included two holiday periods and the lead up to the General Election, the market performed well.
The appetite from sellers shows they’ve remained happy to commit to a move.”
Ian Fry, the new Chief Executive (Estate Agency) at Connells (main picture), says: “The spring market has continued to demonstrate remarkable growth despite external factors, and looking forward, Q3 should see continued momentum.
“The appetite from sellers shows they’ve remained happy to commit to a move.”
Sales agreed
Buyer activity also increased in the second quarter, with viewings up 11% year on year, and sales agreed up 13% over the same period.
“Healthy activity from buyers has been further encouraged by new instructions.
“Moving forward, good supply and the anticipation of an interest rate reduction sets a promising tone for the remainder of the year, and for the market to hit good overall transaction levels in 2025.” Fry adds.
CEO quits
One of Connells Group’s most senior executives quit the firm last month after 35 years. David Plumtree stood down as Chief Executive (Estate Agency).
He was replaced by Fry, in an internal promotion from his position as National Managing Director (Estate Agency).