London homebuyer activity sees sharp rise in January

London lettings and sales estate agent, Foxtons, has revealed that there has been a surge in both the number of sales applicants and viewings entering the London market in the last 30 days.

Related topics:  Property,  London,  Foxtons
Property | Reporter
18th January 2024
Foxtons 816

In recent months, the UK property market has shown consistent signs of positivity. Halifax has reported three consecutive increases in the monthly rate of house price growth, while the Bank of England has also reported that mortgage approvals have climbed for the last two consecutive months.

Foxtons says it has seen a 46% increase in the number of sales applicants enquiring with the firm over the last month when compared to the same period last year.

What’s more, there has also been a 36% jump in the number of viewings being booked during this time.

At the start of 2024, data from independent industry source, TwentyCi, found that Foxtons has been the fastest growing sales estate agent in the top 10 in 2023, increasing market share by 28% year on year.

Guy Gittins, Foxtons CEO, attributes this strong performance to the forward strides made by the company since his return.

He said: “We’re proud of the progress we made last year, having invested in our data and technology, brand and our people.

"This investment has already yielded a substantial return in terms of the growth of the business across sales and lettings. Now as we see a stabilisation of the wider market we’re perfectly placed to translate this into an increase in buyer activity via sales enquiries and viewings.

"It’s fair to say that as planned, we are ahead of the curve when it comes to delivering the right results for our clients and customers.”

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