Propertymark boss Nathan Emerson says the UK housing market is showing strong resilience despite economic uncertainty and higher mortgage rates as the sector heads into the key spring selling season.
Speaking on the latest episode of the Move iQ Podcast with property expert Phil Spencer (main picture), Emerson says activity levels remain encouraging, with last year delivering around 1.2 million property transactions across the UK.
He says the increase in available homes for sale is helping to keep the market moving while preventing excessive price growth.
“Overall, the market is performing surprisingly well,” Emerson says. “We’re entering the spring period with strong levels of activity already underway. Available housing stock has increased by around 100,000 properties, giving buyers more choice while also helping keep price growth realistic.”
FIRST-TIME BUYER HOPE
Emerson added that first-time buyers continue to play a significant role in supporting market activity, accounting for as much as 39% of transactions in some areas.
“This is really encouraging,” he says. “We’re seeing more flexible mortgage lending products and a changing landscape that is enabling more people to step onto the housing ladder.”
The podcast discussion also looks at the growing role of technology and artificial intelligence within estate agency and the wider home moving process.
Emerson says AI is beginning to help agents with administrative work and communication, but stresses that professional advice remains essential in what is often a complex and emotional transaction.
PERSONAL PROCESS
“AI is exciting, and we’re all learning what it can do,” he says. “But buying or selling a home is still an incredibly personal process. Agents spend a lot of time supporting people through one of the most stressful, but also rewarding, experiences of their lives.”
He added that technology should be seen as a tool to improve service rather than replace agents.
“If AI can reduce administration and free up capacity, that allows agents to focus more on communication and customer service. In many cases, when an agent has done their job well, the consumer doesn’t even see the challenges that have been solved behind the scenes.”
Watch the episode HERE.
