Housing market remained active over summer

Michael Lloyd

September 26, 2019

The housing market performed well over the summer months with the number of sales agreed per member branch in August remaining at nine, NAEA Propertymark’s August Housing Report has revealed.

This is the same level for the fourth month running. In addition, the number of sales to first-time buyers stayed the same at 26%, up 6% from the same month last year.

Mark Hayward, chief executive, NAEA Propertymark said: “The summer months can often result in the market quietening down as families stop for their holidays, but our data has shown demand continually increasing over the warmer period and the number of sales agreed remaining high for the fourth month in a row.

“The ongoing Brexit uncertainty is unsettling, but we are seeing prospective buyers are returning to the marketplace as they realise that they can’t keep putting life on hold indefinitely.”

The demand for housing also rose this summer with the number of prospective homebuyers up by 37% in August.

There were more house hunters last month, with the number registered per estate agent branch increasing from 316 to 433.

Year-on-year, housing demand has grown, rising from 320 house hunters per branch in August 2018.

More properties are available per member branch, up from 41 in July to 44 last month while the supply of housing has risen to 40 from this time last year.

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