Estate Agents Bounce Back
The housing market is finally achieving a sustained bounce-back to pre-Crash levels, helped by the the Government’s Help To Buy scheme. The second phase of Help to Buy starts in January 2014. Full details of this scheme can be found on the Gov.uk website.
Over 10,000 people have taken advantage of Help to Buy so far and that figure will of course increase when this second phase kicks in. Even then, these sorts of figures are only a small part of the total housing market, with close to one million house sales each year. But what Help to Buy is doing is pump-priming the market, providing the valuable kick-start needed to create a sustained housing market recovery.
Another recent indicator of a housing marketing recovery is the performance of the estate agent chain Foxtons, which has a large number of branches in London and the south east. In December 2013, Foxtons Group has gained promotion to the FTSE 250 index, clear evidence of its growth and the positive change in market sentiment to estate agents. While Foxtons is operating at the geographic hotspot of the current housing revival, London and the south east, there is growing evidence that housing market confidence will spread steadily across the whole of the UK during 2014.
This is coupled with the growing confidence in the construction sector that we commented on in October: https://www.businessdataprospects.com/uk-construction-output-rises-and-orders-leap/
All of this means that estate agents are finally lifting their heads again:
- Estate agents are recruiting more sales consultants and admin staff.
- Estate agent branches are opening or are re-opening in locations where branches have disappeared over the last few years.
- House prices are projected to increase by over 7 per cent during 2014.
- The Bank of England is indicating that interest rates are unlikely to rise before mid-2016, which will provide people with more confidence to enter the housing market during 2014.
All of this means that estate agents have become a market sector worth talking to again! We can supply you with a data list of the leading 2000 estate agents in the UK, see our data card here: https://www.businessdataprospects.com/portfolio-item/estate-agents-data/
If you have any questions or want to make an enquiry, please contact us by calling the number above or fill out our contact form to request a call back.