Blog Post

Surge in sales agreed

TomS - Head Tom Simper Jan 31, 2024, 11:00 AM

New sales agreed, a key measure of market confidence and activity, were up 13% in the first 3 weeks of January compared to the same period last year.

The volume of sales agreed is higher across all regions and countries, led by Yorkshire and The Humber (+19%) and the West Midlands (+17%).

With the best mortgage rates now below 4% and consumers at their most confident since January 2022, activity is improving, although it is important to note that the rebound is off a low base.

Although there is positivity in the market, buyers remain very price sensitive, with one in five sellers accepting more than 10% below the asking price to achieve a sale. Source: #Dataloft, Zoopla (January 2024), GfK Consumer Confidence Tracker

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