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New properties listed for sale doubles in four months

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  • 25/04/2022
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New properties listed for sale doubles in four months
The number of new properties coming to the market has doubled in just under four months, increasing from five on average in December to 10 in March.

According to Propertymark’s housing market report for March, although stock levels are still “historically low” there are more new properties listed, resulting in a lift in new buyers and sales.

The average number of properties listed was 22, which is roughly in-line with February figures of 23.

The report said that the average number of new potential buyers registering at each member branch increased from 67 in February to 84 in March. It noted that this was close to the high of 100 in January.

It added that new instructions were high at an average of 10 per member branch, which it said shows that the increase in supply since the start of the year has continued.

Sales agreed rose from eight in February to 10 in March, which Propertymark said was slightly below the long-term average of nine for the month.

The report also found that offers accepted at or over the asking price rose by four per cent month-on-month to 84 per cent, which it said was the highest since surveys began in 2013.

The report said that this showed that the “ball is still firmly in the seller’s court”.

No offers at or over the asking price were accepted in March 2020, which could be attributed to the first lockdown, and in March 2019 it was just under 20 per cent.

The report found sales to first-time buyers made up 30 per cent of overall sales in March, which is slightly down from 37 per cent in February.

However, this is still above average for post-2020 lockdown period at 25 per cent.

Nathan Emerson (pictured), chief executive of Propertymark, said: “Our March figures show a range of new activity as the spring market makes itself known. The number of new properties coming on to the market has increased slightly and new stock breeds new buyers and new sales.

“The number of sales being agreed in March is slightly above our recorded long-term average and the uplift in properties coming to market is a trend we would hope to see continue into April and May.”

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