Buy-to-let landlords and holiday home buyers from outside of the region helped make the North East property market particularly buoyant in 2021, estate agency Pattinson says.
The Wallsend-based firm, which operates 27 branches across the region, also pointed to demand from people working from home who wanted more space as operating profit increased from £1.64m to £2.72m during the year. The company’s turnover went from £9.2m a year earlier to £12.8m in 2021.
Auctions were said to be gaining popularity as a way to sell property. Pattinson's own auction business is now said to have more than 2,500 partner agents signed up - other independent estate agents that refer clients nationally and internationally. In November the firm marked 30 years since it launched the 'conditional auction' - a method that involves the buyer being given 28 days to exchange contracts and has since been adopted by other auction houses.
