This report is based on responses to a survey of Propertymark member agents. Analysis is based on data provided by around 30 agents across the UK and a variety of third-party data including data from the Bank of England, ONS and HM Land Registry.
July’s General Election was a welcome settler to the market, as many buyers and sellers played on the side of caution to better understand any government proposals before approaching the buying and selling process.
August tends to be one of the quieter months in the auction calendar, however September’s figures demonstrated an extremely positive response, with a nearly 10% increase in lots offered and sold across the UK.
The Autumn saw a strong post-summer uplift, with an 8.7% increase in lots offered year-on-year, totalling 4,538 and a 9% rise in lots sold, amounting to 3,243 transactions. This activity generated £687.7m worth of turnover, marking a 19.9% increase from the previous year. The residential sector was particularly robust, with a 9.3% increase in lots offered and a 24% jump in total funds raised (EIG figures).
As the economy continues to stabilise, it is fantastic to see members report strong demand and growth in performance. There is incredible potential over the medium to long term for the profession to witness sizable expansion, especially as consumer habits evolve.
It’s extremely pleasing to see robust demand for streamed and onlineactivity, as more and more people embrace the opportunity to engage and participate via the use of digital and smart technology.
The profession is firmly on an exciting journey that will bring enhanced reach, immediacy of information, approachability and growth.
