The property market has been steadily gaining momentum, and estate agents are confident this growth will carry into 2025. Southgate Estates takes a closer look at the trends driving this optimism and how they might impact Exeter’s market landscape.
A recent survey conducted by GetAgent indicates that 76% of estate agents believe 2025 will be another strong year for the property market. Colby Short, CEO of GetAgent, attributes this positive outlook to a rise in mortgage approvals, which often serve as a barometer of market health.
The Bank of England’s data shows a steady climb in approvals, with figures surpassing 60,000 in February and increasing to 68,303 by October. This trend reflects growing confidence among buyers and lenders alike, setting the stage for a dynamic 2025.
The survey further reveals that 67% of estate agents expect demand to continue rising into the new year. Additionally, 64% predict an increase in sales volumes compared to 2024. This sentiment aligns with broader market patterns, suggesting a favorable environment for property transactions.
However, Southgate Estates notes that the upcoming Stamp Duty Land Tax (SDLT) relief deadline in March could cause a temporary surge in activity. Many buyers will likely rush to complete transactions before the 1st April deadline, potentially leading to a brief lull in the market afterward as activity normalizes.
While the outlook remains positive, challenges persist. High house prices and affordability concerns continue to impact buyers, compounded by elevated mortgage rates. Limited housing supply is another issue that could affect market activity in 2025.
“2024 showed encouraging signs of recovery, but affordability and supply constraints are still significant hurdles,” commented Colby Short. “With thoughtful planning and strategic decisions, buyers and sellers can navigate these challenges and take advantage of the opportunities that lie ahead.”
In Exeter, Southgate Estates is already seeing these trends reflected locally. “The property market here continues to show resilience and potential,” a spokesperson remarked. “Both buyers and sellers have opportunities to thrive, provided they approach the market with a clear plan and the right advice.”
Southgate Estates has built a reputation as one of Exeter’s leading estate agents. Specializing in property sales across the city and surrounding areas, they also offer a comprehensive lettings service designed to meet the needs of landlords and tenants.
To learn more about how Southgate Estates can assist with your property journey, get in touch:
Southgate Estates
51 South Street, Exeter, EX1 1EE
01392 207444
https://southgateestates.co.uk/