First-time buyers (FTBs) made up 28% of sales in August – up from 20% in July – according to NAEA Propertymark’s August Housing Report.
This is the highest sales figure for FTBs since June 2020, when it stood at 29%, and year-on-year this is the highest August since 2016, when it was also 28%.
In August, 37% of properties sold for more than the original asking price, an increase from 31% in July, and an increase of 185% from 13% in August 2020.
This is also the highest figure on record for the month of August.
The average number of sales agreed per estate agent branch fell slightly to nine in August, from July’s figure of 10. Year-on-year, this figure is average.
The number of properties available per member branch stood at 23 in August, a drop from July’s figure of 28 per branch, which makes for an average of 19 buyers for every available property on the market.
The average number of house hunters registered per estate agent branch stood at 435 in August, which is a marginal increase from 428 in July.
Year-on-year, this is a 10% increase from August 2020 which stood at 396.
Nathan Emerson, chief executive of Propertymark, said: “This month’s report shows an enduring appetite amongst buyers, including the ongoing wave of new buyers securing their first homes.
“Lifestyle changes are still prevalent, and buyers are now looking to a future which is very different from the one they envisioned two years ago.
“The search for green space, home offices and more flexible living is a trend that is unlikely to see demand diminish before the new year.”