Sub-5% mortgage rates mean buyer demand is sitting 12% higher than a year ago, although still 13% below the five-year average.

This reflects a return of pent-up buyer demand following a weak second half of 2023.

Many buyers delayed moving in the face of rising mortgage rates.

Similarly, the uplift in agreed sales in the final weeks of 2023 has continued into 2024.

•   The Finance Professional Show 2023: The Video
•   Sirius launches new branding
•   Karis Capital facilitates £21.7m bridge for residential care group

This suggests buyers and sellers are becoming more aligned on pricing after over a year of tussling.

New sales are 13% higher than a year ago and up across all countries and regions, most markedly in Yorkshire and the Humber (+19%) and the West Midlands (+17%). 

There’s also been a 22% uplift in the flow of homes listed for sale.

This indicates that people are feeling more confident in listing their home for sale again, boosting choice for buyers and keeping prices in check.