- Demand rose while the supply of available housing dropped in June
- The number of properties sold to first-time buyers increased
- Only two per cent of properties sold for more than the original asking price
Sales agreed and sales to first-time buyers (FTBs):
- The number of sales agreed per branch rose from 10 in May to 11 in June
- The proportion of sales made to FTBs rose to 30 per cent in June – the highest amount since January.
Demand for housing:
The number of house hunters registered per estate agent branch increased by 10 per cent last month. In May, there were 350 per branch, compared to 384 in June. This is also a 16 per cent increase from June 2016 when 330 potential buyers were registered per branch.
Supply of properties:
Indicating that gap between supply and demand is increasing; the number of properties available per branch fell last month – dropping from 40 in May to 37 in June.
What properties sold for:
- Only two per cent of properties sold for more than asking price in June, a decrease of one percentage point from May
- The number of homes that sold for less than asking price rose to 79 per cent last month – up two per cent from May.
Mark Hayward, Chief Executive, NAEA Propertymark said: “In May, we saw a period of political uncertainty, with new buyers stalling their house search until after the election. In June, however, it seems the market has bounced back, with the number of house hunters rising. Although we have seen a decrease in the number of houses available per branch, we have seen a rise in the number of sales – which is typical of this time of year as buyers and sellers push through their property transactions ahead of the quieter summer months.”
(All figures from NAEA Propertymark’s June Housing Report)
Full NAEA Propertymark June Housing Report available on request at: www.naea.co.uk