Zoopla data reveals buyer demand tracking 14% ahead of early 2023
The uptick in demand is coupled with a seller bounce on the portal which started earlier than anticipated on Christmas Day.
Demand from buyers is tracking some 14% ahead of early 2023 and new sales agreed are up 16% compared to the first week of 2023, latest data from Zoopla reveals.
The uptick in demand is also coupled with a seller bounce on the portal which started earlier than anticipated on Christmas Day.
BOOST
In a boost to agents, seller leads increased by 128% compared to Christmas Eve and remain 175% higher two weeks after Zoopla’s major campaign launch on 25th December 2023 (main picture).
The ‘Pre Boxing Day Bounce’ was also aided by more sellers listing their properties for sale on Zoopla on Boxing Day. Over 11,500 properties were listed on Zoopla on the 26th of December.
And Zoopla reckons the general improvement in market sentiment should continue into the Spring with improvements in mortgage rates continuing to bring new buyers into the market.
Ian Fry, National Managing Director for Estate Agency at Connells Group, says: “The start of 2024 has been far more positive than this time last year.
“Our boxing day campaign was our biggest ever and as a result we have experienced increased enquiry levels and leads as the new year bounce started to take hold.
“Improving buyer sentiment drove a much more active December and with lenders reducing rates as soon as we returned in January we expect this momentum to continue through the rest of January and beyond.”
IMPACT
Nikki Cole, Director of National Sales at Zoopla, adds: “We’re very pleased with the immediate impact our marketing campaign has generated for agents – with the boost in vendor leads seen on Christmas Day a clear indicator of this.
“We’re doing everything we can to support agents to maximise this positive sentiment in the market – be it delivering high-quality leads, arming them with best-in-class insights from our research team, or ensuring our products deliver strong results.”
Zoopla’s latest marketing campaign will continue to run until the February 28th with upcoming TV spots for Zoopla’s ad appearing including Dancing on Ice, Love Island All Stars and upcoming Premier League games.
