Skip to content

Estate Agents Confident in Property Market Prospects in 2024

Don't miss out on the best new investment deals. Enter your details now to sign up to our mailing list and receive exclusive information straight to your inbox.

    Estate Agents Are Optimistic About Property Market Activity in 2024

    With buyer and seller activity increasing in the UK property market during the opening months of 2024, it’s easy to see why industry professionals are gaining confidence in the housing sector again.

    New research shows that roughly half of surveyed agents trust the property market’s prospects.

    Today, we’ll look at the UK property market research and see what it could mean for buy-to-let investment in 2024.

    Discover More: If you are interested in reading more about property investment, check out some of our guides, including our articles on what is a good yield for a rental property and buying a house in the UK as a foreigner.

    Only £30,000 Deposit Required

    15% deposit secured for next 10 units only!

      Couple of homeowners getting key to new house apartment from realtor, happy real estate owners make purchase deal, family mortgage investment and buying property concept, close up view of hands

      What Do Estate Agents Expect From the UK Property Market in 2024?

      A survey conducted by asked nearly 600 estate agents about their outlook for the 2024 market. They found that 55% of agents feel confident about the market this year.

      The biggest challenges ahead include the fluctuating cost of buy-to-let, market uncertainty, and inflation. However, concerns about house price depreciation and limited buyer and seller activity are less prominent.

      40% of agents expect house prices to remain steady in 2024, while 29% predict an increase. This news follows a more optimistic flurry of property price predictions, particularly compared to last year. Knight Frank adjusted their property price prediction in light of new activity and lower mortgage rates – they now predict that the average UK property price will rise by 3% over the next 12 months.

      Regarding current market activity, 18% of agents reported more new seller enquiries than last year, and 39% said they were as busy as last year. Similarly, 15% noticed an increase in available stock, with 40% experiencing similar levels to the previous year.

      Moreover, 15% observed more buyers making offers than last year, while 35% reported similar buyer activity.

      Despite optimism, buyers are cautious due to higher borrowing costs, according to GetAgent, who advises estate agents to approach valuations carefully.

      Only 10% of agents stated that buyers are offering above the asking price, while 63% are offering below it. Additionally, a third of agents mentioned an increase in properties being downvalued. This is not surprising, particularly when you consider that many sellers applied discounts of up to £7,000 in the lead-up to Christmas to encourage cautious buyers into the market.

      Read More: Discover how to get into property investment and the best type of property to invest in UK  areas with our latest insights!

      Completed, Furnished 2-Bed Apartment in Prime L1

      We are now welcoming offers on this city centre property in a previously sold-out development. Get in touch and get your offer in.

      What Do the Experts Think About Renewed Estate Agent Confidence?

      Chief executive of GetAgent, Colby Short, said:

      “It’s great to hear that the majority of agents are feeling confident about 2024. Our own numbers reflect the feedback from agents around increased market activity, with a record-breaking number of vendors referred in the first two months of the year.

      “As always, it is important for us all to see the increased stock moving through the funnel and transactions completing; however, with inflation seemingly under control and the Bank of England hopefully reducing the base rate soon, all signs are pointing to a much better year for the property market.”

      Learn More: If you want to learn more about property investment across the UK, check out some of our handy buy-to-let guides, including:

      Avatar photo

      Dale Barham

      LinkedIn Logo

      Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.