The property market is buzzing with optimism as industry insiders predict continued recovery and growth through 2025. Southgate Estates takes a closer look at the current trends and insights, offering their perspective on what lies ahead for the property market.
A new study led by GetAgent’s CEO Colby Short reveals that 76% of estate agents anticipate a thriving property market in 2025. This sentiment is rooted in key indicators like rising mortgage approvals, signaling renewed confidence among buyers and lenders alike.
In February, mortgage approvals exceeded 60,000—a significant milestone. By October, figures had climbed further, reaching 68,303, according to the Bank of England. These numbers reflect a growing wave of market activity, hinting at a robust year ahead.
GetAgent’s research also highlights that 67% of estate agents expect buyer demand to keep increasing in 2025. Many believe this surge will translate into more transactions, with 64% predicting higher sales volumes compared to 2024.
However, the outlook isn’t without potential challenges. Southgate Estates points to the upcoming Stamp Duty Land Tax (SDLT) relief deadline in March as a possible disruption. With homebuyers rushing to complete transactions before the 1st April deadline, market activity could temporarily spike before stabilizing.
While optimism abounds, estate agents also foresee hurdles. Affordability concerns due to elevated house prices remain a top issue. Additionally, higher mortgage rates and limited housing inventory could pose challenges for prospective buyers in 2025.
“This past year has been a mixed bag for buyers,” notes Mr. Short. “While higher mortgage rates have been a hurdle, 2024 has seen encouraging signs like increased buyer activity and modest growth in property values. Looking ahead, the recovery is expected to persist, paving the way for another positive year.”
Reflecting on these findings, Southgate Estates offers its unique perspective on the Exeter property market. “The trends are clear: 2025 presents exciting opportunities for buyers and sellers alike,” a spokesperson commented. “For buyers, strategic planning is key to navigating affordability challenges. For sellers, this renewed activity creates an ideal environment to maximize value.”
Southgate Estates is a premier estate agent based in Exeter, specializing in property sales throughout the city and its neighboring towns and villages. Their portfolio also includes a thriving lettings service, offering comprehensive solutions for landlords and tenants.
For more information or to explore your property options, reach out to Southgate Estates:
Southgate Estates
51 South Street, Exeter, EX1 1EE
01392 207444
https://southgateestates.co.uk/