Propertymark’s latest report reveals that the number of new prospective buyers registered per member branch rose from 70 in January to 94 in February, a 141% increase since December.
This increase is in line with regular seasonal trends, suggesting that rising interest rates have not deterred potential homebuyers.
The supply of new homes for sale per member branch returned to a steady state of 10 in February, with the average number of sales agreed per branch remaining at the same level as February 2022.
Nathan Emerson, CEO of Propertymark, said: “There has been a lot of doomy whispers about the housing market since last autumn, but the activity being seen by Propertymark agents paints a robust picture.”
He added that transaction levels and new property listings have been stable, indicating that any negative impact on the market is yet to materialise.
The lettings market, however, remains unbalanced, with an average of 10 registered applicants per property.
While demand continues to outweigh supply, pressure on rents has eased slightly since last summer’s peaks but has not disappeared entirely.
