Letting & Estate Agent Podcast

UK PROPERTY MARKET WEEKLY UPDATE Welcome to the 7th UK Property Market Stats Show of 2025, your go to weekly TV show on the UK Property Market on YouTube This week, I’m joined by the brilliant Iain McKenzie, Bossman of the 800 agent Guild of Property Professionals, as we delve into the key property market headlines for 7th week of 2025 ending on the 23rd February 2025. The YouTube Show https://youtu.be/cDfIV4bUDEU ✴️ UK Property Market Highlights this week . ✅ Listings (New Properties on the Market) 35.8k new listings this week (last week 36.1k) That’s 9% higher than Week 7 of 2024 YTD and 9.2% higher YTD compared to 2017/18/19. ✅ Price Reductions (% of Resi Stock) 20.6k Price Reductions this week - meaning an approx run rate of 1 in 8 of Resi Sales stock per month is being reduced (12%). For comparison, 11.9% average in 2024, though the long-term 5-year average is 10.6%. ✅ Total Gross Sales (Agreed Sales) 27.4k UK homes sold STC this week, slightly down from 27.6k last week in Week 6 That’s 20% higher YTD compared to 2024 and 28% higher than 2017/18/19 YTD levels. ✅ Sale-Through Rate (Monthly in Arrears) January’s Run rate of 15% of Resi stock sold stc. For comparison, 13.9% of residential sales stock sold in January 2025. 2024 monthly average: 15.3%. Long-term 8-year average: 17.9%. ✅ Sale Fall-Throughs 6,027 Sale fall-thrus last week from Resi Sale Sales Pipeline of 440,431 homes sale agreed (sold stc). Another method is that week’s sale fall thrus as a % of gross sales that week. This week, that is 22% (last week 22.2%). Still below the 7-year average of 24.2%, and well below the 40%+ levels post-Truss Budget (Autumn 2022). For January ’25 as a whole, 6.03% of sales in the UK agents pipelines fell thru in Jan 25. For comparison, 2024 average: 5.36%. ✅ Net Sales (Gross sales for the week less Sale Fall Thrus for the week) 21.3k net sales this week, compared 2025 weekly average of 20.6k. 2025 YTD is 17% higher than compared to 2024 YTD and 22% higher than YTD 2017/18/19. ✅ Residential Sales Stock on the Market 660k properties on the market at the end of January 2025 (up, as expected, from 605k in December). Historical comparison for end of January : * 2024: 612k * 2023: 525k * 2022: 373k * 2021: 538k * 2020: 591k * 2019: 614k * 2018: 540k * 2017: 525k ✅ Residential Sales Sold STC Pipeline 440k sales agreed but not yet completed at the end of January 2025. Historical comparison for January : * 2024: 354k * 2023: 347k * 2022: 447k * 2021: 459k * 2020: 308k * 2019: 290k * 2018: 282k * 2017: 270k ✅ UK House Prices (£/sq.ft) As always, the £/sq.ft metric predicts Land Registry figures 5 months in advance with 92% accuracy (the orange line of the graph). January’s final figure: £342/sq.ft. * December ’24 : £339/sq.ft * August ’24: £334/sq.ft * January ’24: £330/sq.ft This means UK house prices have risen 3.64% in the last 12 months. Local Focus this week - Wakefield

Clare Yates, MD of CY Training Works, dropped by the Watkinsofa in the Autumn of 2024 to chat all things Estate Agency and Conveyancing. In this episode Christopher asks Clare five (random) burning questions. Let's see if she passes on any.

David Gibbons, MD at Estate Agency of Courtyard Homes, an Estate Agency in the North West, dropped by the Watkinsofa in the Autumn of 2024 to chat about all things Estate Agency. In this episode David talks about why splitting the Negotiator and Valuer roles has killed Agency.

Paul Leslie, Managing Director at Leslie & Co, a West London Estate Agent and part of the Keller Williams network. He dropped by the Watkinsofa in the Autumn of 2024 to chat all things Estate Agency. In this episode Paul talks about the zero excuse culture within Estate Agency.

Chris Barry, Director of Business Development at Thomas Legal, dropped by the WatkinSofa in late Summer 2024 to chat all things Estate Agency and Conveyancing. In this episode Chris talks about why it takes so long to get a conveyancing through to exchange and completion.

Minimum Wage Estate Agency! In this interview, Iain and Myles White, discuss the evolving estate agency industry, focusing on challenges such as rising fees, generational differences in leadership, and the role of technology in managing leads. In the past, agents were directly involved in securing deals, but now they rely more on platforms like Rightmove, which passively generate leads. Technology, including AI and virtual assistants, helps manage inbound leads, allowing agents to focus on more creative tasks like generating new business and solving client problems. Training and development have become critical, especially for newer agents who trained in an easier market and may struggle with a more competitive one. Agencies with clear values and strong leadership foster better company cultures, which lead to improved staff retention and business success. Independent agencies tend to offer a more close knit environment, while larger corporates may struggle with maintaining this. Smaller agencies face fewer challenges but still benefit from technology to improve efficiency. Ultimately, the modern workforce values career progression, work life balance, and supportive cultures over just high salaries. Businesses combining traditional values with modern tech are attracting top talent, and adapting to these changes is crucial for staying competitive in the market. Listen now to become better informed!

Chris England, Co-Founder of PVS, dropped by the Watkinsofa in the Summer of 2024 to chat all things Estate Agency and video. In this episode Chris talks about why Estate Agents are afraid of being on video.

Ben Moser, Director Of Operations at Petermans Estate Agents, Managing Director at Petermans Housing Initiatives dropped by the WatkinSofa in the Summer of 2024 to chat about all things Estate Agency. In this episode Ben talks about personal brand in Estate Agency.

UK PROPERTY MARKET WEEKLY UPDATE Welcome to the 6th UK Property Market Stats Show of 2025, your go to weekly TV show on the UK Property Market on YouTube This week, I’m joined by the awesome Iain White, as we delve into the key property market headlines for 6th week of 2025 ending on the 16th February 2025. The YouTube Show - https://youtu.be/_t4sThuNZlY . ✴️ UK Property Market Highlights this week . ✅ Listings (New Properties on the Market) 36.1k new listings this week (last week 36.5k) That’s 9% higher than Week 6 of 2024 YTD and 10% higher YTD compared to 2017/18/19. ✅ Price Reductions (% of Resi Stock) 21.3k Price Reductions this week - meaning an approx run rate of 1 in 8 of Resi Sales stock per month is being reduced (12%). For comparison, 11.9% average in 2024, though the long-term 5-year average is 10.6%. ✅ Total Gross Sales (Agreed Sales) 27.6k UK homes sold STC this week, up from 27k last week in Week 5 That’s 21% higher YTD compared to 2024 and 30% higher than 2017/18/19 YTD levels. ✅ Sale-Through Rate (Monthly in Arrears) January’s Run rate of 15% of Resi stock sold stc. For comparison, 13.9% of residential sales stock sold in January 2025. 2024 monthly average: 15.3%. Long-term 8-year average: 17.9%. ✅ Sale Fall-Throughs 6,162 Sale fall-thrus last week from Resi Sale Sales Pipeline of 440,431 homes sale agreed (sold stc). Another method is that week’s sale fall thrus as a % of gross sales that week. This week, that is 22.2% (last week 23.7%). Still slightly below the 7-year average of 24.2%, but well below the 40%+ levels post-Truss Budget (Autumn 2022). For January ’25 as a whole, 6.03% of sales in the UK agents pipelines fell thru in Jan 25. For comparison, 2024 average: 5.36%. ✅ Net Sales (Gross sales for the week less Sale Fall Thrus for the week) 21.4k net sales this week, compared 2025 weekly average of 20.7k. Last week Week 5 2025 - 20.6k. 18.9k is the weekly YTD 2025 average. 2025 YTD is 19% higher than compared to 2024 YTD and 24% higher than YTD 2017/18/19. ✅ Residential Sales Stock on the Market 660k properties on the market at the end of January 2025 (up, as expected, from 605k in December). Historical comparison for end of January : * 2024: 612k * 2023: 525k * 2022: 373k * 2021: 538k * 2020: 591k * 2019: 614k * 2018: 540k * 2017: 525k ✅ Residential Sales Sold STC Pipeline 440k sales agreed but not yet completed at the end of January 2025. Historical comparison for January : * 2024: 354k * 2023: 347k * 2022: 447k * 2021: 459k * 2020: 308k * 2019: 290k * 2018: 282k * 2017: 270k ✅ UK House Prices (£/sq.ft) As always, the £/sq.ft metric predicts Land Registry figures 5 months in advance with 92% accuracy (the orange line of the graph). January’s final figure: £342/sq.ft. * December ’24 : £339/sq.ft * August ’24: £334/sq.ft * January ’24: £330/sq.ft This means UK house prices have risen 3.64% in the last 12 months. Local Focus this week - St.Albans Graphs - https://we.tl/t-6ISEgqwulK

David Gibbons, MD at Estate Agency of Courtyard Homes, an Estate Agency in the North West, dropped by the Watkinsofa in the Autumn of 2024 to chat about all things Estate Agency. In this episode David talks about why Estate Agents are so bad at Training and Development.