Propertymark’s survey of 100 estate agents across the UK has found a large increase in the number of prospective buyers in March, up to an average of 113 per member branch from 81 in February.
The number of homes placed for sale per member branch also increased, up from 10.7 to an average of 13.5. Stock levels remained broadly the same at 41, as did market appraisal volumes with an average of 24 per branch. House prices saw a month-on-month dip, but the overall number of properties achieving the asking price climbed from 9% in February to 15% in March.
The time taken to exchange shows ‘encouraging signs’ of trending downwards again, Propertymark reported:
“We witnessed a dramatic change in the volume of agents reporting that it takes on average 17 weeks or more to progress from offer acceptance to exchange. This number has reduced to 25% for March 2025, down from 32% a month before. It also represents a positive change from a peak in July 2022, where the number stood at 41%.”
Sales volume data, which measures residential sales transactions completed within the month, shows an increase of nearly 90% compared to March 2024. The report notes this was ‘driven firmly by a rush to complete on properties’ before the SLDT changes on 1 April.
Affordability is an ongoing issue, with 31% of people reporting it ‘very’ or ‘somewhat’ difficult to pay their mortgage or rent. However, Propertymark suggests the report offers a snapshot of a healthy market.
CEO Nathan Emerson said:
“In the sales market, we saw the uplift in sales attributed to the imminent increase in stamp duty from the start of April. However, the market remains strong despite this, with a continuous stream of properties coming through the pipeline.
“Wider economic factors and upcoming interest rate decisions will likely play a key role in the trajectory of the housing market moving forward. Nevertheless, overall pricing, mortgage products, and confidence are all trending upward, providing a perfect mix to help get people onto or move up the property ladder.”
