Propertymark: Number of house sales and buyers increasing

Propertymark’s latest Housing Insight Report for July 2024 found that the number of house sales agreed, and the number of prospective buyer registrations, have both increased.

According to the report, the average number of new prospective buyers registered per member branch increased from 69 in June 2024 to 71 in July 2024, representing a 4 per cent uplift.

The average number of sales agreed per member branch marginally increased in July 2024 by 5 per cent, further demonstrating there is clear positive news in the housing market despite interest rates remaining at 5 per cent currently.

Dispite ongoing challenges, the housing market remains in a much stronger position than only twelve months ago, and Propertymark is confident there will be further market growth as the year plays out. It is vital the UK Government converts its housing ambitions into a reality and ensures a reliable flow of affordable new houses are available in key areas where needed. It’s important all is done to assist consumers approaching the housing market to generate a long-term sense of confidence and sustainability.

Nathan Emerson, CEO at Propertymark, said:

“We entered July with a new government and the prospect of a reset in major housing policy areas. Despite this, prospective buyer registrations in the residential sales sector were up, so too were the number of sales agreed. In response to seasonal trends but also anticipation of an August rate cut, most other sales metrics remained static. Although underlying demand remains strong, there continues to be a gap between buyer and seller expectations.

“The new government has inherited a very large ‘to do’ list with urgent interventions required in several policy areas. We look forward to working with the new government to tackle these and other issues. “