Letting agents are confident about future growth potential through mergers and acquisitions.
That’s the message from a survey conducted by industry PropTech firm Reapit: the study took place earlier this year but responses related to 2024 activities by agents.
Nearly 45% of respondents said they had either acquired or were considering acquiring another agency or rental book in 2024 with only 16.2% considering selling – a decrease from previous years.
In the sales market too, confidence remains firm. Over 39% of agents reported optimism about the future of residential property sales, with fewer than 23% feeling pessimistic – despite affordability challenges and tax headwinds.
A Reapit spokesperson says: “While affordability and unduly long transaction times continue to trouble the sector, underlying demand for homes remains strong.
“The agencies that will continue to thrive are those that position themselves not just as brokers, but as trusted advisors who can guide clients on their journey to property ownership.
“There’s no question the operating environment is complex and there are still affordability barriers for first-time buyers and significant supply issues on the rental side. But it’s also clear that agents, across both sales and lettings, are prepared to adapt. Those who embrace change will not just survive but thrive in the years ahead.”
The survey – contained in the first Reapit Property Outlook Report 2025 – shows that 76.3% of property professionals remain committed to working in the sector for at least the next five years – a marked increase from 66.1% in the previous year’s Reapit Rental Confidence Index.
A spokesperson continues: “The challenges are well-documented, whether through legislation, tax changes or the economy, but our poll reveals that agents are continuing to show remarkable resilience.
“This year’s survey results show that sales and letting agents want to see how PropTech can help their agency improve productivity and develop new revenue streams to prepare for the challenges of the future.”
Reapit’s nationwide survey polled property professionals about their plans and opinions amid a raft of regulatory reform, including the impending Renters Rights Bill, new EPC requirements, changes to stamp duty and the leasehold system.
Agents ranked new regulations (59.7%) and new legislation (52.0%) as their top two concerns, with profitability following closely behind.
In the sales market, agents are adjusting to the latest stamp duty changes in April, which reduced the nil rate band from £250,000 to £125,000. This, combined with higher interest rates and stretched affordability, was cited as major barriers by over 50% of respondents. Yet, 43% still rate their local sales market as stable, with 38.3% describing it as performing well – driven in part by a rush of activity ahead of April’s tax changes.
