The property market is abuzz with positivity as industry experts project another year of growth and recovery. Southgate Estates delves into the latest data and shares insights on what these trends mean for Exeter and beyond.
A recent survey by GetAgent reveals that 76% of estate agents believe the property market will continue to strengthen throughout 2025. This optimism is driven by a steady increase in mortgage approvals—a key indicator of market resilience.
The Bank of England’s figures show approvals surpassing 60,000 in February, with consistent growth pushing the number to 68,303 by October. These trends suggest that buyers are regaining confidence, setting the stage for an active year ahead.
In addition to the rise in mortgage approvals, 67% of estate agents predict buyer demand will remain high in 2025. Moreover, 64% of those surveyed expect sales volumes to exceed 2024 levels, further underscoring the momentum building in the market.
However, the upcoming Stamp Duty Land Tax (SDLT) relief deadline in March could create a temporary surge in transactions. Many buyers are likely to expedite purchases before the 1st April cutoff, potentially leading to a brief slowdown once the relief ends.
While the overall outlook is promising, affordability concerns remain a significant challenge. High property prices, elevated mortgage rates, and limited housing supply continue to impact buyers, making strategic decisions essential.
“The property market has demonstrated remarkable resilience in 2024,” remarked Colby Short, CEO of GetAgent. “Although challenges persist, the groundwork has been laid for a positive and productive year in 2025.”
Southgate Estates notes similar patterns in the Exeter market. “The renewed interest from buyers and steady seller activity reflect the broader trends seen across the UK,” a company spokesperson said. “With the right guidance, both buyers and sellers can make the most of these favorable conditions.”
Southgate Estates is a trusted name in Exeter’s property market, offering expert services in property sales and lettings. Whether you’re buying, selling, or looking for rental support, their team provides tailored solutions to meet your needs.
To explore your property options, contact Southgate Estates:
Southgate Estates
51 South Street, Exeter, EX1 1EE
01392 207444
https://southgateestates.co.uk/