You are here: Home - News -

Number of properties sold reaches 13-year high – NAEA Propertymark

by:
  • 26/08/2020
  • 0
Number of properties sold reaches 13-year high – NAEA Propertymark
Estate agents sold an average of 13 houses per branch in July, the highest figure since June 2007, as housing demand saw a 13 per cent monthly increase.

 

The number of house hunters registered per estate agent branch rose from 379 in June to 428 in July, NAEA Propertymark’s Housing Report showed. 

On a yearly basis, there was a 44 per cent increase on sales per branch and a 35 per cent uptick in housing demand.  

Fewer sellers are benefitting from the heightened demand however, as the proportion of homes selling for more than the asking price dipped to eight per cent in July, down from 10 per cent in June.  

Furthermore, 60 per cent of properties sold for less than the original asking price in July.  

 

Housing supply 

The busier market has encouraged sellers to list their homes as more properties became available in July with 43 per branch, up from 37 in June.  

Compared to last year, this was only a marginal increase from the 41 properties available per member branch.   

 

First-time buyers 

There were fewer first-time buyers taking advantage of current market conditions as sales sold to this group stood at 25 per cent in July, a fall from 29 per cent in June. 

Mark Hayward, chief executive, NAEA Propertymarksaid: “It’s positive to see the market continuing to boom with clear interest from both buyers and sellers.  

Usually we would expect to see a lull in activity during the summer months; however, demand remains unabated with no signs that this will not continue.  

He added: “With the recent stamp duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer.” 

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
for sale signs
Stamp duty holiday sparks ‘home moving frenzy’ in southern commuter belt – Rightmove

South East commuter towns have experienced the biggest jump in sellers since the start of the stamp duty holiday, as...

Close