The average number of new prospective buyers registered per estate agency branch fell to 81 in February 2025, down from 87 in January, according to the latest Propertymark Housing Insight Report.
This decline suggested a cooling in buyer interest following the recent changes to Stamp Duty thresholds in England and Northern Ireland.
Despite the drop in registrations, the average number of viewings per available property rose to 2.7, indicating that those actively searching remain engaged.
Meanwhile, the average number of homes placed for sale per branch stood at 10.7, maintaining a steady level of supply.
In the lettings market, the average number of properties available for rent per branch dipped to 10.41, while the average number of new tenancies agreed per branch was 7.72.
With an average of 10 applicants per available rental property, demand continued to outstrip supply.
Nathan Emerson, Propertymark CEO said: “It’s likely that we will now see a return to a normal pace in the sales market now that the Stamp Duty threshold changes have taken effect in England and Northern Ireland.
“This spurred on a spike in momentum which is likely to tail off in line with previous trends seen on the back of property tax changes.
“Moving forward however, these additional Stamp Duty changes will likely be absorbed into the overall price of the property allowing a healthy mix of properties and prospective buyers to continue as we move into the historically popular spring and summer months to buy and sell.
“In the lettings market, there remains no significant progress in the number of available properties to rent, therefore widening the gap between supply and demand.
“We need UK Government support to revitalise the market and incentivise investment before it’s too late.”
