All but two counties in England have seen an increase in buyers coming to the property market, according to Benham and Reeves.

The London agency says market stability and mortgage affordability have helped “boost buyer appetites”.

Its research shows that between Q1 2024 and Q1 this year, the number of homes securing a buyer (sold subject to contract) across England has increased at an average quarterly rate of 3.7%.

Largest uplift

The largest uplift in buyer activity has been in Lincolnshire, where the number of homes securing a buyer has gone up at an average rate of 6% per quarter.

Cumbria has seen the second largest increase in buyer activity with a quarterly increase of 5.9%.

Cheshire (+5.4%), Worcestershire (+5.1%), Essex (+5%), Oxfordshire (+5%), East Riding of Yorkshire (+4.9%), Leicestershire (+4.9%) and Warwickshire (+4.9%) have also seen some of the largest average quarterly growths.

Decline

Just two counties or boroughs have seen a decline.

In the City of London, the number of homes finding a buyer has declined at an average quarterly rate of -6.2%, whereas Greater London has seen healthy growth, with buyer activity increasing by 3.6%.

Meanwhile, Gloucestershire has experienced a reduction of -2.9%.

Stability has been key in tempting buyers back into the fold over the last year.”

Marc von Grundherr, Director at Benham and Reeves, says: “Stability has been key in tempting buyers back into the fold over the last year, and it’s clear that with interest rates stabilising and then falling, the resulting improvements to mortgage affordability has helped to drive the market forward.”