An average of 2,984 property sales per day in 2024 represented a 7% increase on 2023, but sits some way below the more than 3,200 daily transactions each year between 2014 and 2019.
According to analysis of transaction data by Moverly there were 1.09m transactions in the UK in 2024. England (2,512) and Northern Ireland (69) both saw annual increases in 2024 against 2023; and in Scotland and Wales there were 272 and 130 daily sales, 6.8% and 5.6% increases respectively.
2024 saw an upward trend in the number of daily transactions, beginning in January at 2174, before culminating in the two busiest months in October (3,590 sales per day) and November (3,481). The continued impact of the COVID-19 pandemic and the changes to seasonality in the market are evident in the trend pre and post 2020.
From 2014 to 2019 a clear annual trend prevails with the exception of external market dynamics such as the end of SDLT reliefs, as seen in March 2016. During this period the average number of daily transactions across the UK was 3,319.
From 2020-2024 the trend becomes less seasonal following the impact of COVID-19. Excluding 2020, during which daily transactions climbed to 4,044, the daily average for 2020-2024 was 3,020; 9% down on pre-pandemic levels.
Commenting on the figures, Gemma Young, Moverly CEO, said
“property professionals 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.
Practitioners are already work incredibly hard, so taking on more work is not always going to be easy, especially with things like Material Information regulations threatening to increase the administrative time required for every individual listing.
So, to reduce this additional strain, both in terms of working hours and legal responsibility, agents should consider streamlining their Material Information responsibilities by integrating with third-party tech platforms that have been designed to assist with specific specialist processes.”
