Real estate lists in the new United Kingdom are backed by a decrease in mortgage rates

Stay in view of the free updates

Simply subscribe to UK’s property Myft Digest – it is delivered directly to your inbox.

UK real estate agents have reported the most widespread increase in the property coming to the market since the epidemic, according to a survey, indicating that low interest rates enhance sales activity.

The Royal Foundation for Legal Surrounds said on Thursday that the new sales instructions index rose to 25 in January, and the ninth positive reading in a row and the highest level since September 2020.

The index follows the difference between the percentage of agents who reported an increase in new residential lists and those that have reported a decrease.

The agents have reported that the number of property coming to the market has shrunk for most of the three years until 2023, where the increasing interest rates reached the ability to afford real estate loans and demand from buyers. However, the England Bank The borrowing costs have been reduced three times since August 2024 and interest rates are expected to reduce again this year, which helps to recover in mortgage approvals and the wider real estate market.

“It is a very strong start for the new year. The instructions are at very high levels.”

Separate data published earlier this month by the Halifax lender showed that the prices of homes It rose more than expected To a new record in January. The Bank of England reported last month that the mortgage approvals increased in December and that it increased by 28 percent on an annual basis.

While the number of guidelines coming to the market is “encouraging”, John Frost, the administrative director of the real estate partnership agency, said, “buyers are very careful.”

The agreed RICS index sales in January slowed down to a clear balance compared to seven in December.

With increasing lists and poor sales, the survey highlighted a “noticeable” increase in the inventory of real estate agents, at a rate of 45 lists for each branch, up from 41 years.

The stock levels are much higher than the 34 -year record in September 2022, which was distinguished by the latest supply since Ric began tracking data in 1978.

The expectations for home sales remained positive, as a net balance of 10 percent of real estate agents is expected to increase sales in the next three months and net 30 percent expect an increase in the next year.

Tarant Parsons, head of market analysis, said that the latest poll showed that the buyer’s request “lost some momentum” in January, but the respondents continued to “imagine a positive look in the near term” of sales activity.