Rightmove predicts bumper 2025 for property sales
A panel of experts from the portal has looked at what 2025 has in store and is predicting transaction volumes will rise to 1.15 million.
Rightmove has brought together a panel of its experts to give their predictions for the housing market for next year and they say they are expecting transaction volumes to rise to 1.15 million, some 150,000 more transactions than this year.
The panel believes that with prices likely to rise by 4% and average fixed mortgage costs to come down by around 1% to 4%, confidence and transaction levels will rise.
We expect a busier year in 2025.”
Those numbers will also be boosted by first-time buyers (FTBs) who will be rushing to complete their purchases before stamp duty goes up for them on April 1st.
The number of FTBs sending enquiries to agents is already 13% ahead of the same period last year and buyer numbers, which had dipped post-budget, are now 23% ahead, says Rightmove.
The panel also notes that the average number of available homes per estate agent branch is at a 10-year high, so while the number of buyers in the market is increasing, they’re likely to be spoilt for choice in 2025 and there will be strong competition between sellers.
Upbeat
Rightmove’s property expert Tim Bannister says: “We expect a busier year in 2025, with around 1.15 million transactions completed. Stamp duty charges rising from 1st April means we are likely to see a particularly busy first three months of the year as first-time buyers, home-movers and investors all try to complete on planned purchases and avoid higher charges.”
And Toby Leek, NAEA Propertymark President, comments: “As we round off the year, the property market sits in a much more upbeat position and will enter 2025 geared for growth.”
