UK Property Market Seeing Buyer Demand Thrive Alongside Rise In New Mortgages

The latest Housing Insight Report from Propertymark has shown that the average number of prospective buyers coming to market in the UK has increased to an average of 96 per member branch – the highest level seen in the past two years. With interest rates dropping and an improved economic outlook, the market is continuing to thrive for buyers and sellers alike, as house prices also see another boost.

As the average number of prospective buyers continues to increase, the latest Housing Insight Report released by Propertymark has shown that this number has reached 96 per member branch – the highest level that we’ve seen in the past two years. As interest rates have decreased, and the economic outlook has improved, the market has continued to grow healthily for both buyers and sellers within the UK market, as house prices are also on the up.

The average house price in England has risen by an average of £5,618 over the past year, alongside sales volumes across the UK continuing to rise, there has been a huge rise in the volume of those returning to market looking to buy as rates are dropping. There has been a rise in both gross mortgage advances, as well as in the value of new mortgage commitments in Q2 compared to Q1.

The announcement of the Stamp Duty Tax Relief also coming to an end in April 2025 has spurred the market on, encouraging those who were looking to buy to complete their purchases ahead of this change.

Nathan Emerson, Propertymark CEO.

If you have been looking to purchase, and want to make the most of the lowered interest rates and the Stamp Duty Tax Relief, this is your time to act. Reach out to our expert property consultants today to learn about the opportunities we have available across Manchester – the number one investment hotspot in the UK.