The number of first-time buyer sales dropped in June

Michael Lloyd

July 29, 2019

The number of sales made to first-time buyers were down 3% in June, the latest figures from the NAEA Propertymark has found.

And sales to first-time buyers overall are down by 6% on a year-on-year basis.

Mark Hayward, chief executive, NAEA Propertymark, said: “Although we’ve seen a slight drop in supply and demand, the housing market is still stronger than expected, showing signs of resilience amid political uncertainty.

“The warmer months can often result in the market quietening down, but we’re not yet experiencing this just yet as demand remains high for the year.

“We’ll need to see if this trend continues over the next few months before we can conclusively say that confidence in the market has returned.”

In June the number of house hunters registered per estate agent branch fell slightly, from 307 to 305. Despite this, the number of prospective buyers remains high for the year.

Compared with last year, housing demand is almost aligned, with just a 1% difference from June 2018 when there was an average of 308 house hunters per branch.

Furthermore, the number of properties available per member branch dropped in June, from 41 in May to 37.

The supply of housing fell marginally from the same period in 2018, with 39 properties available to buy in June last year.

In addition, the amount of sales agreed per member branch remained at nine in June, the same level for the second month running.

Meanwhile year-on-year, the number of property transactions stayed the same, with an average of nine sales agreed per branch in June 2018.

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