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Homebuyer demand up year-on-year

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  • 04/12/2019
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Homebuyer demand up year-on-year
Buyer demand for homes is slightly higher than last year, with an average of 320 house buyers registered per branch, the National Association of Estate Agents (NAEA) Propertymark has revealed.

 

This is up from 318 throughout 2018, and by 16 per cent from the 275 per branch seen a decade ago.

The rise in demand hasn’t been matched by a rise in supply, with the typical number of properties available to buy per branch dropping from 39 last year to 38 in 2019. August was the high point, when branches had an average of 44 available to buy. However, this remains sharply down on the 65 seen on average in 2009.

First-time buyers enjoyed a more productive 2019 according to the data, making up 27 per cent of sales. This is up by two percentage points from the 25 per cent of sales in 2018.

Mark Hayward, chief executive of NAEA Propertymark, said it had been an “interesting” 12 months for the market.

He explained: “House buyers and sellers have been faced with a lot of uncertainty, which in turn affects sentiment and decision-making. Activity in the housing market has remained consistent when compared to the last year, which was expected, as buyers and sellers hold off on purchases until the outcome of the General Election and Brexit is clear.”

 

Rental increases

Sister organisation ARLA Propertymark revealed its own data on the rental sector, noting that the supply jumped from 187 properties available to let per branch in 2018 to 197.

It found that the number of tenants seeing rental rises jumped from an average of 26 per cent each month in 2018 to 46 per cent this year, which it put down to the impact of the tenant fees ban.

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