Demand surges in May
There were 383 house hunters per branch in May compared to 344 last month – the highest number since 406 potential buyers were recorded in September 2014.
Supply increased marginally to satisfy such demand, as there were 46 houses for sale per NAEA member branch in May, up from 43 in April.
Mark Hayward, managing director, National Association of Estate Agents, said: “There’s been a significant jump in the number of house-hunters searching for properties this month – no doubt because the uncertainty of the market following the election has worn off and confidence has returned.
“However, supply does not meet the rise in demand, and as consumer confidence grows we will continue to see a widening of the property gap.
“The housing shortage will not be solved any time soon, so as pressure mounts we will no doubt see increases in house prices, making it harder for those stepping on or up the ladder.”
Sales to first time buyers increased in May, jumping from 26% in April to 29% in May.