Twenty CI: Home Retail Businesses To See Uplift As Property Sales Rise

• TwentyCi data: Home retail businesses to see uplift as property market sales rise by 23% 

The number of households progressing through the homemover journey has risen as the number of sales ‘sold subject to contract’ — those agreed between buyer and seller but yet to be completed — increased by 23% in Q3 24 compared with Q3 23.

The UK-wide research by property data provider TwentyCi and released as part of its Property and Homemover Report, showed 332,200 sales were agreed in Q3 24, which was 23% above the 269,225 agreed in Q3 23.

The analysis showed that at the beginning of September, nearly 1.47 million owner-occupier households were in various stages of the homemover journey, marking an increase of 123,000 compared to July 2024. 

This strength of sales indicates that growth in transactions will continue into 2025 and shows that demand has remained unaffected by July’s parliamentary election. All regions saw an uplift in sales agreed throughout the quarter, with the East of England and the East Midlands both experiencing increases of 28% compared with Q3 23. In terms of major cities to have benefited, Southampton, Peterborough and Birmingham saw the biggest percentage rises. 

The graphics below highlight the national picture by region and by major cities: 

At the same time, the supply of properties for sale for Q3 24 is higher than at any point in the last six years at 456,902, up from 419,807 in Q3 23 - a rise of 9%.   

Exchanges are also up by 10.9% compared to Q3 2023 as the market continues to bounce back from the slowdown experienced by hikes in interest rates during Q3 and Q4 of 2023.   

The positive property market outlook is also supported by the latest IPA Bellwether Report for Q2 2024 which reports the net balance of UK companies that increased their marketing budgets was 15.9%, the highest level since Q1 2014. Direct marketing was the second-highest beneficiary, with a net balance of 8.9%, which proves brands have taken the now withdrawn third-party cookie decline warning seriously and focused on first-party data-driven campaigns.  

TwentyCi’s analysis concludes homemovers contribute circa 3% to GDP through purchases made during the moving process (outside of the transaction value), offering a £29bn lifeline of expenditure to the retail economy. The home-moving phase often triggers a series of lifestyle adjustments with £1.3 billion spent every year on beds and furniture, £2.3bn on appliances, and £2.1bn spent on improvements.  

Colin Bradshaw, CEO at TwentyCi, comments: “Despite a decade-low drop in furniture prices and footfall below 2023 levels, improved activity in the housing market provides positive news for the home improvement and furniture industry. The predictability of a homemover spending is three times higher than a non-mover, which creates untapped value for many retail brands. With the residential property market continuing to improve, retailers have an excellent opportunity to address the blind spot regarding the use of homemover data in marketing campaigns for 2025.” 

Download the full Property & Homemover Report here.  

Source : TwentyCi

Image : 1124978648 / Yeti studio / shutterstock 

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