March Property Market Update

February is a month which has flown by, and it was a busy month for us!

This year we have seen an increase of over 50% in net sales across our branch network! This is a combination of a lot more properties selling and less transactions falling through. There is often a lot of doom and gloom in the news about the property market, but this is not translating through into what we are seeing. There is a lot of buyer confidence, and properties are selling in a lot of instances very quickly after coming onto the market.

The biggest thing holding back sale and rentals growing is a shortage of properties coming onto the market. We have seen an increase in sales listings but not as much as sales have grown and rental supply is still failing to keep up with demand. As ever if you are thinking about selling or renting your property, please contact your local Pattinson team.

If your property is outside of the North East, we have a network of over 3,500 partner estate agents who would be happy to assist us in marketing your property. We have seen an increase of 40% in auction sales instructed across the UK with our National Auction Teams and Partner Agent Network.

In February we also welcomed the sales and lettings team from Browns Estate Agency in Stockton and Norton. We were delighted to assist when Chris and Trish Brown chose us to look after their landlords and sellers following their decision to retire. The property management team alongside commercial valuations and Norton sales team have all been fantastic additions to the Pattinson family and we have seen some great results already. This will also assist with our growing our coverage of the Teesside and North Yorkshire area.

We held an open day for apprentices and have already enrolled three new apprentices within our branches. Over the years we have had some great successes with apprentices, we have managers who first joined us as apprentices. We also have a number of vacancies for experienced property or sales roles across several of our offices and within our head office and auction teams and would love to hear from anyone interested in the roles.

March will be a shorter month with Easter falling at the end, but we have already seen the momentum of February carry through.