Zoopla Reports Uplift in Buyer Demand and Seller Activity Early in 2024

Recent Zoopla data indicates a significant rise in buyer interest and seller activity in the UK property market as 2024 begins. The property portal has seen a 14% increase in buyer demand compared to early 2023, along with a 16% rise in new sales agreements since the first week of the year.

This surge in demand coincides with an early and unexpected increase in seller activity, beginning on Christmas Day. Zoopla’s data shows a remarkable 128% boost in seller leads compared to Christmas Eve, maintaining a 175% rise two weeks after their major campaign launch on December 25th, 2023.

The ‘Pre Boxing Day Bounce’ was further enhanced by over 11,500 properties being listed on Zoopla on December 26th. Zoopla anticipates this positive market sentiment to extend into Spring, supported by ongoing improvements in mortgage rates attracting new buyers.

Ian Fry, National Managing Director for Estate Agency at Connells Group, comments on the market’s upswing: “The start of 2024 has been far more positive than this time last year. Our boxing day campaign was our biggest ever and as a result we have experienced increased enquiry levels and leads as the new year bounce started to take hold. Improving buyer sentiment drove a much more active December and with lenders reducing rates as soon as we returned in January we expect this momentum to continue through the rest of January and beyond.”

Nikki Cole, Director of National Sales at Zoopla, expresses satisfaction with the campaign’s impact: “We’re very pleased with the immediate impact our marketing campaign has generated for agents – with the boost in vendor leads seen on Christmas Day a clear indicator of this. We’re doing everything we can to support agents to maximise this positive sentiment in the market.”

Zoopla’s ongoing marketing campaign is set to continue until February 28th, featuring upcoming TV spots during popular shows such as Dancing on Ice, Love Island All Stars, and Premier League games. This strategy aims to sustain and amplify the positive trends currently observed in the UK property market.