Agent sales pipelines are booming according to Zoopla, in a claim that appears to buck the trend for current market assessments.

In fact the portal says the estate agency industry is enjoying the largest sales pipeline for over four years.

The current pipeline is the largest since May 2021 (£105 billion), and the highest level in September for over six years, 48% higher than in September 2023.

There are 394,000 sales agreed proceeding to completion with a total sales value of just over £100 billion, it claims.

Commission value

And this represents over £1 billion in commission value to agents.

The total number of homes for sale remains high, averaging 36 homes per agency branch.

But only last week, the latest RICS market survey reported a sluggish property market that is set to continue into the new year.

It described the current trend as “subdued momentum”, with buyer demand and agreed sales negative for the third consecutive month.

Record number

Zoopla though says “a record high number of homes for sale over the last year has brought more sellers and buyers into the market, a trend supported by greater stability in mortgage rates”.

It also points to relaxed lending rules, which “delivered all buyers using a mortgage a 20% increase in borrowing capacity”.

Market confidence has rebounded.”

Rich Hayes, Chief Operating Officer at Zoopla, says: “Market confidence has rebounded, and this is a great opportunity for agents to re-engage with vendors who may have gone quiet, but could now have renewed motivation to sell.”