- One in 10 properties sold for more than the original asking price, the highest recorded since February 2016
- The number of sales agreed has soared with an average of 10 sales per branch in June
- Housing demand was 10 per cent higher in June compared to May
- NAEA Propertymark issues June Housing Report
NAEA Propertymark has just issued its June Housing Report.
What properties sold for
- In June, one in 10 properties (10 per cent) sold for more than the original asking price as buyers compete for the successful bid on their dream home.
- This is the highest recorded since February 2016 when 11 per cent sold for more.
- Nearly two in five (57 per cent) properties sold for less than the original asking price in June.
- The average number of sales agreed per estate agent branch stood at 10 in June, double the amount recorded in May when there were five sales recorded per branch.
- Year-on-year, the number of sales per branch have increased, rising from nine recorded in June 2019.
Demand for housing
- In June, the number of house hunters registered per estate agent branch rose by 10 per cent, increasing from 344 in May to 379.
- Year-on-year, housing demand is up by nearly a quarter (24 per cent), rising from 305 in June 2019 as prospective buyers resumed their home buying plans following the market reopening.
Supply of available properties
- The number of properties available per member branch stood at 37 in June, increasing from 35 in May.
- Year-on-year, the supply of housing remained the same.
Sales to FTBs
- The number of sales made to FTBs stood at 29 per cent in June, a fall from 32 per cent in May.
Mark Hayward, Chief Executive, NAEA Propertymark comments: “It’s positive to see the market continuing to boom after the government re-opened the property market in May. Usually we’d expect to see a lull in activity during the summer months; however, with estate agents following new social distancing protocols and both demand and sales soaring, it seems we’re in for a busy summer.
The NAEA stated:
NAEA Propertymark is the UK’s leading professional body for estate agency personnel; representing members who practice from over 12,000 offices in all aspects of property services. We are dedicated to the goal of professionalism within all aspects of property, estate agency and land. Our aim is to reassure the general public that by appointing a NAEA Propertymark Protected agent to represent them, they will be safeguarded and receive the highest level of integrity and service for all property matters.
Full NAEA Propertymark May Housing Report available on request: