Pulse Survey Q1 2024 results

Our Q1 2024 Pulse Survey, completed by broker firms, showed that:

45% of respondents had written more business overall last year compared to the previous 12 months

For first time property investors however, 37% of respondents had written less business compared to the previous 12 months

37% of respondents increased the size of their teams last year

45% of respondents believe the market will improve, with slightly higher business volumes, over the next 12 months

27% of respondents think that continued high interest rates is the biggest risk to their business levels in 2024

47% of respondents had used bridging for quick property purchases the most in the previous 3 months

31% of respondents believe the ability to provide bespoke solutions is the most important consideration when arranging bridging loans for their clients

HMOs were the most popular investment for their clients in the previous 3 months for 43% of respondents

Anna's insight

Anna Lewis, Commercial Director at Castle Trust Bank comments: "We know that 2023 was a difficult year for brokers, but there are clear signs of optimism for 2024 and beyond. I’m particularly pleased to see that almost half of respondents had seen business volumes increase last year despite the base rate reaching 5.25% in August, and a similar proportion believe their business volumes will increase during 2024. With over a third of those surveyed seeing the size of their teams increase last year, the industry is well positioned to make the most of the opportunities that will arise this year with inflation falling, and the expectation that base rates should start to come down later this year."

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