House sales pipeline at four-year high

According to Zoopla, approximately 306,000 homes are currently working their way through the buying process to completion, representing a £113bn sales pipeline. This is the highest number since autumn 2020, up 26% more than last year. The strong momentum in new sales is expected to continue into December. “It is positive to see the sustained increase in sales activity over 2024 which reflects growing confidence amongst buyers and sellers,” said Richard Donnell, executive director at Zoopla. The increase is being driven by first-time buyers, who are now expected to make up 36% of sales in 2024, with 31% for existing owners. Many first-time buyers are also keen to complete their purchases before potential changes to stamp duty relief, which could be addressed in the upcoming Budget. 

London Evening Standard   The Independent UK