The property market is gearing up for what many believe will be another year of steady recovery and growth. Southgate Estates delves into recent research and offers its perspective on how these trends might shape the Exeter market.
Recent findings from GetAgent reveal that 76% of estate agents anticipate continued improvement in the property market throughout 2025. Colby Short, the company’s CEO, attributes this confidence to consistent gains in mortgage approvals—a critical indicator of market health.
In February, approvals surpassed 60,000 for the first time in months, and by October, the Bank of England reported an increase to 68,303. These figures reflect growing confidence among buyers and lenders, laying a strong foundation for the year ahead.
The study also highlights that 67% of agents foresee sustained buyer demand into 2025, while 64% believe this will translate into higher sales volumes compared to 2024. This aligns with broader market dynamics, suggesting a buoyant year for property transactions.
However, the upcoming Stamp Duty Land Tax (SDLT) relief deadline at the end of March may cause a temporary spike in activity. Many buyers are expected to push through transactions before 1st April to avoid higher costs, leading to a potential cooling-off period afterward as the market adjusts.
Despite the positive outlook, affordability remains a critical concern, with high house prices continuing to pose challenges for buyers. Elevated mortgage rates and limited housing supply further complicate the landscape, making strategic planning essential for market participants.
“The challenges of 2024 haven’t disappeared,” Colby Short explained, “but the progress we’ve seen offers a hopeful outlook for 2025. Buyers and sellers who approach the market thoughtfully will find opportunities to succeed.”
In Exeter, Southgate Estates has observed these national trends reflected locally. “We’re seeing a growing interest from buyers and a steady stream of sellers looking to capitalize on improved conditions,” a spokesperson said. “For both groups, having a clear strategy and the right support is more important than ever.”
As one of Exeter’s most trusted estate agents, Southgate Estates offers unparalleled expertise in property sales and lettings across the region. Their personalized approach ensures that both buyers and sellers receive the guidance they need to achieve their goals.
For tailored advice and support, contact Southgate Estates:
Southgate Estates
51 South Street, Exeter, EX1 1EE
01392 207444
https://southgateestates.co.uk/