Property market bounces back

Michael Lloyd

July 30, 2018

The number of sales agreed per estate agent branch rose from eight in May to nine in June, as buyers push through summer property transactions, NAEA Propertymark’s June Housing Report has found.

However, this is 18% lower year-on-year when agents agreed a total of 11 sales per branch.

The proportion of sales made to first-time buyers rose by 5% to 29% in June, the highest amount recorded since February.

Mark Hayward, chief executive, NAEA Propertymark, said: “We have seen a rise in the number of sales which is typical of this time of year as buyers and sellers seek to complete their property transactions ahead of the quieter holiday period.

“If a seller is hoping to avoid the summer slowdown and is looking to market their home once this has passed, they can spend some time over the coming months ensuring their home is ready for sale, whether it be decluttering, or refreshing the décor.”

The number of properties available per branch rose in June, from 37 to 39.

Year-on-year this is a 5% increase, as agents also marketed 37 properties in June 2017 but down 15% from 46 five years ago.

The number of house hunters registered per estate agent branch decreased by 12%, from 351 in May to 308 in June.

This is the lowest number of buyers recorded since March this year and a fifth (20%) lower than June 2017, when 384 prospective buyers were registered per branch.

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