Zoopla to host 2023 market update for agents
Zoopla has announced it’s hosting a 2023 market update on Thursday, the 23rd of March to share the three biggest challenges agents face the rest of this year and how to overcome them.
Hosted by Zoopla’s Executive Director of Research, Richard Donnell and Nikki Cole, Director of National Sales – the webinar is a must-attend for all agents thinking about how they approach the second quarter of 2023 and beyond.
Topics that will be covered in the webinar include an updated outlook on what’s next for the property market, how much lower mortgage rates might fall and what this means for market activity in both sales and lettings. This will be followed by an exclusive Q&A with Richard and Nikki where agents will have the opportunity to ask them questions.
NATIONAL ASSOCIATION OF PROPERTY BUYERS URGES CHANCELLOR TO OVERHAUL STAMP DUTY IN BUDGET
The Chancellor should introduce targeted changes to Stamp Duty in his Budget next week, a leading Property Association has said.
The National Association of Property Buyers say that despite the market holding up well, Mr Hunt’s statement will be crucial.
Spokesman Jonathan Rolande said: “The market remains on a knife edge, and is still feeling the impact of the botched Truss/Kwarteng statement.
“That’s why it’s absolutely vital the Chancellor delivers measures that support the market and ensure we don’t end up with a massive house price crash.”
Lower Pricing Triggers Uptick in Demand
Lower prices and mortgage rates have piqued buyer appetite, according to Home.co.uk’s Asking Price Index for March.
Returning buyer demand has reduced the Typical Time on Market by five days since last month and is a sure sign that the market is picking up pace in the wake of the Truss-Kwarteng debacle. This renewed momentum came at the cost of a price correction, effectively writing off all the gains of 2022 and a little more. However, with the froth of the COVID boom cleared from the market, UK home prices look set to consolidate over the coming months as demand and supply find a new equilibrium.
Fears of a flood of panic sales prove to be unfounded as supply remains restrained. In fact, the monthly rate of new instructions is slightly down on February 2022. Meanwhile, the total stock of unsold property on the market is still below pre-COVID levels despite having recovered significantly following the unprecedented buyer frenzy of 2020/21.
The Proptech-X Weekly Roundup in association with Estate Agent Networking.
Andrew Stanton is the founder and CEO of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder and editor of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.
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Andrew Stantonhttps://proptech-x.com/author/andrew-stanton/
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Andrew Stantonhttps://proptech-x.com/author/andrew-stanton/
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Andrew Stantonhttps://proptech-x.com/author/andrew-stanton/
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Andrew Stantonhttps://proptech-x.com/author/andrew-stanton/
