Having concluded the budgets for 2025, I consulted all my Senior Management team and we decided on the following assumptions for the next 12 months:
- Volume transactions may increase from 2024 by circa 5% to 10%, this reflects the increasing demand for properties in the area and the pressure that we have from buyers to find a home.
- Capital prices will hold and in some cases within the popular price ranges, up to perhaps £600,000, increases may still exist for well presented, beautiful property, ready to move into, and they may see between 5% and 10% increase in prices. The top end of the market will remain static and has already seen some readjustment in pricing in the last 6 months of 2024, creating better value for money for the luxury housing property.
- Fee levels are likely to increase as customers demand greater levels of service, support and speed with the efficiency of their sale. The pressure continues for the remuneration for estate agency staff to ensure the best quality team creates the greatest impression and the most effective house sale, which our clients want.
The need for Estates Agents to be proactive, positive and to return to good practices of selling the features and benefits of property is essential. Those that work hard and canvas for the direct need of their clients’ requirements and wishes will succeed in achieving good levels of sales, but it is certainly a buyer’s market as we approach 2025 and they are looking for good value for money and high quality.
At Sanderson Young we are positive about the housing market as we head into 2025 and we look forward to a good year ahead.
If I can assist you in anyway in the new year, please do not hesitate to contact me at duncan.young@sandersonyoung.co.uk.
Duncan G Young
Chairman
SANDERSON YOUNG