Henry Adams reports net sales revenue up 50% on last year
Leading south coast estate agency, Henry Adams, has reported a 50% uplift in net sales revenue on transactions agreed between April and June 2024 when compared to the same period last year.
Activity levels are stronger now across the board, with family homes between £450,000 and £750,000 in highest demand, according to Henry Adams, which operates a network of sales & lettings branches across West Sussex, Hampshire and Surrey.
Gareth Overton, Head of Residential Sales, said, “The market has shown remarkable stability and resilience after some turbulent times. While prices aren’t yet increasing, the calmer interest and mortgage rates have encouraged buyers and sellers to take action.
“Our analysis shows the froth has come off the market and sales are being agreed at realistic figures. Those properties on the market at over-optimistic prices are not attracting the same degree of interest, and the days of 20 sealed bids are long gone.
“Every transaction needs dedicated negotiations right the way through to exchange of contracts. I’m proud of our sales teams for turning a challenging market into such positive outcomes for people who put their homes on the market with Henry Adams. It’s not been easy but with consistency and drive, the results speak for themselves.”
In the past year, Henry Adams has also invested heavily in installing new tech, staff training, and in marketing and promotion. While viewing figures were down just before the election, activity bounced back quickly. The anticipated change in government was already factored in by many homeowners and it’s back to business as usual.
“It’s certainly busier than we usually expect around election time,” said Gareth Overton. “With steadier interest rates, which are likely to be cut again in the coming months, the outlook is optimistic. Stronger levels of activity look set to continue into the summer selling period with clients making informed decisions to take advantage of this market stability. There are still some great opportunities for people to secure their next home at a sensible price.”
Rightmove’s House Price Index reveals that the number of sales being agreed is 15% up on July last year across the country. Rightmove also adds that new sellers are up by 3% and the average five-year fixed rate mortgage stands at 4.97%, below the 6.11% peak of last year, making repayments more affordable.
