Park Industry Report – February 2023

The market is off to a stronger start in 2023 than anticipated, with a growing influx of buyers returning to the market.

Buyers are returning to the market and have exceeded expectations, surprising us with a 20.44% increase in traffic on the Sell My Group website in January year on year from 2022.

According to the most recent analysis of buyer activity from the Sell My Group website, there has been a 15% increase in the number of leads in the last two weeks, when compared to the equivalent period in 2019’s relatively stable market.

In the past, shifts from a fast-paced market to a slower one have taken various forms. Although it is still too early to draw definitive conclusions, current indications – namely, operators becoming more practical with their pricing and then an uptick in the number of sales being negotiated – suggest that the market may experience a gentler deceleration than originally predicted.

Despite the year still being in its early stages, recent critical indicators indicate that buyers are proceeding with transactions and are confident enough to re-enter a market that has thus far proven stronger than expected. Recent data indicates that demand is now resulting in actual sales, with the number of transactions agreed are just down from the corresponding period in 2019’s more typical market.

This marks a notable progression from the outset of the year, which saw the figure at a 15% drop, and a substantial improvement from the dip in the aftermath of the mini-budget in September.

The frenzied property market witnessed in recent years was not sustainable in the long run, and current essential indicators suggest a shift toward a more stable level of activity following the market volatility at the end of the preceding year.

Contact Sell My Group for more information:

justin@sellmygroup.co.uk
0333445014
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