According to the association’s housing report for May, this was down from the average of 27 properties per branch in April.
At the same time, the average number of prospective buyers rose from 427 in April to 506 in May, the highest figure for the month since 2004 where buyer purchaser numbers reached 421.
This meant there was an average of 20 buyers per property during the month.
Asking price boom
Buyers were continuing to go above and beyond to secure their desired homes as a third of properties sold for more than their asking price in May, the highest on record.
This was an increase from the record share of 32 per cent of properties going for more than what was asked in April.
Sales agreed was flat on April, at 12 per branch.
Annually, this was the highest level of agreed sales for May since 2007, when the average stood at 13.
The share of sales made to first-time buyers also stayed the same as last month at 27 per cent.
Mark Hayward, chief policy adviser at Propertymark, said: “It is incredible to see demand for housing continuing to break records and more homes selling for over the asking price than ever as consumers rush to beat the initial stamp duty deadline at the end of the month.
“With 20 buyers per available property, we are firmly still very much in a strong sellers’ market. Properties are being snapped up swiftly and at record high prices.”
He added: “However, we anticipate that there will be a much-needed rebalancing over the coming months as the remaining stamp duty deadline phases out and people start returning to a semblance of normality, spending money they have been able to save during the pandemic on holidays and more normal activities such as spending to see friends and family.”
