You are here: Home - News -

Sales hold in June as supply and demand soften, reports NAEA Propertymark 

by:
  • 29/07/2019
  • 0
Sales hold in June as supply and demand soften, reports NAEA Propertymark 
NAEA Propertymark has reported that property sales held up during June, despite a fall in numbers of house-hunters and homes for sale.

 

The latest Housing Report from the estate agency group showed the number of available properties per member branch fell to 37 in June 2019, down from 41 in May and 39 in May 2018.

In addition, the number of registered house hunters dropped to 305, down from 307 in May and 308 in June last year.

However, sales agreed per branch stayed at nine in June, the same level as in May 2019 and June 2018.

“We’ve seen a small drop in supply and demand, but the housing market remains stronger than expected and is showing signs of resilience amid political uncertainty,” said Mark Hayward, chief executive of NAEA Propertymark.

“Warmer months can result in market quietening, but we’re not experiencing that yet.

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

Sales to first-time buyers stood at 23 per cent in June, down from 26 per cent in May and 29 per cent in June 2018.

The proportion of properties sold for less that the original asking price was 86 per cent. Just three per cent went for more than the asking price.

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
worried mortgage customers
Self-employed mortgage applicants expect to be rejected

Self-employed workers are putting off applying for a mortgage because they assume they’ll be rejected by lenders, a study shows.

Close