An estimated £113 billion worth of homes are working their way through the buying process, marking the highest level of new sales agreed since autumn 2020. This includes around 306,000 homes in the sales pipeline, which is 26 percent more than a year ago, indicating strong momentum in the market. This activity is expected to continue into December, bolstered by a high supply of homes for sale and recent trends in mortgage rates.
Richard Donnell, executive director at Zoopla, stated that it's positive to see a sustained increase in sales activity, reflecting growing confidence amongst buyers and sellers. The dynamic of rising rental prices against declining mortgage rates is significantly influencing potential buyers, with first-time purchasers particularly taking advantage of this changing landscape.
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