Many UK estate agents have seen a more muted start to the year

Many UK estate agents have seen a more muted start to the year. Image: wavebreakmedia / Shutterstock.com.

This muted start relates to activity where both seller and buyer are concerned.

A survey was commissioned by GetAgent.co.uk, the estate agent comparison site, on 532 UK estate agents to see what they are currently seeing on the ground. The survey’s aim is to gain a temperature test of current market health following the heightened turbulence seen during the closing stages of 2022.

The results show that when it comes to the level of buyer interest currently being seen, the majority of estate agents (57 per cent) are less busy than they were this time last year.

A quarter have seen a consistent level of buyer interest, with just 18 per cent stating they are now busier.

Just over half (51 per cent) of estate agents also stated that they are currently sitting on a lower level of for-sale stock versus the start of 2022, with 45 per cent also seeing a dip in the number of new enquiries from those looking to sell a home.

Of those who are seeing buyers act with intent, half stated that they were doing so with offers below the asking price, with just 11 per cent seeing buyers offer above the asking price, suggesting that the manic market conditions of the pandemic have well and truly subsided.

This is no doubt down to the reduction in purchasing power that many buyers have been hit with as a result of increased mortgage costs.


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Written by

Anna Ellis

Originally from the UK, Anna is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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