Almost 3,000 homes were sold each day in the UK, reflecting a 7% hike in the average workload for estate agents, new research has revealed.
Moverly analysed residential property transaction data from 2014 to 2024 and found that the total number of property sales in 2024 reached 1.09 million.
This averages to 2,984 sales each day, the highest daily transaction average since 2022, but still slightly below the pre-pandemic levels of over 3,200 daily transactions recorded from 2014 to 2019.
England and Northern Ireland saw annual increases of 6.9% in 2024, resulting in average daily sales of 2,512 and 69, respectively.
Scotland recorded an average of 272 daily sales, up by 6.8%, while Wales saw 130 daily sales, an increase of 5.6%.
The year 2024 experienced a late surge in property sales.
October and November were the busiest months, with daily sales of 3,590 and 3,481, respectively.
Gemma Young, CEO at Moverly, commented: “Estate agents are likely to face an increased workload this year, and perhaps even the heaviest load in many years should Labour manage to incentivise homebuying in the way they hope to with increased supply, more accessible mortgages, and a stronger national economy.
Read the orginal article: https://propertyindustryeye.com/estate-agents-face-increased-workload-as-almost-3000-homes-sold-daily/
