Zoopla data shows buyer demand tracking 14% ahead of early 2023

Early January continues to show positive signs for the property market, with buyer demand in 2024 tracking 14% ahead of early 2023, and new sales agreed up 16% compared to the first week of 2023.

These positive market signs are supported by a vendor bounce on Zoopla, which started earlier than anticipated on Christmas Day. In a boost to agents, vendor leads increased by 128% compared to Christmas Eve - and remain 175% higher two weeks after Zoopla’s major marketing campaign launch on December 25th.

This ‘Pre Boxing Day Bounce’ driven by Zoopla’s campaign was further amplified by the uptick in vendors listing their properties for sale on Zoopla on Boxing Day. Over 11,500 properties were listed on Zoopla on the 26th of December.

This general improvement in market sentiment should continue into the Spring with improvements in mortgage rates continuing to bring new buyers into the market.

Zoopla will be continuing to support this buyer interest and drive leads for agents with its marketing campaign which will continue to run until the 28th of February. Upcoming TV spots for Zoopla’s ad include Dancing on Ice, Love Island All Stars and upcoming Premier League games.

Zoopla will also be delivering additional market information and locally tailored messaging to 50 local authorities via Facebook, Instagram and YouTube - driving consumers directly to local listings pages on Zoopla.

Ian Fry, National Managing Director for Estate Agency at Connells Group comments: “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 comments: “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 - be it delivering high-quality leads, arming them with best-in-class insights from our research team, or ensuring our products deliver strong results.”

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For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.

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