UK housing market report for December 2011
- Average number of house-hunters registered per branch increased
from 262 in November to 294 in December.
- Number of sales agreed per branch decreased, moving from an
average of 6 in November to 5 in December.
- Average number of properties available for sale per
branch also decreased from 65 in November to 62 in December.
- Percentage of First Time Buyers (FTBs) increased from 19
per cent to 21 per cent between November and December.
The UK housing market, unusually for the time of year, saw
an increase in demand for property during December; however, as one
might expect actual sales and supply levels decreased in the
approach to Christmas.
The number of house-hunters registering with an NAEA agent
increased from an average of 262 in November to 294 in December,
bringing it nearer to levels recorded between July and October
2011. December's figure is above average when compared with
December 2010, where only 227 house-hunters registered at NAEA
estate agent branches. NAEA agents reported that house-hunters
remained committed to the property search right up until the
Christmas break, suggesting a push by house-hunters to secure a
property before the end of the year or early in
Sales declined during the month, moving from an average of 6 in
November to 5 in December per NAEA branch. This is the lowest level
for completed transactions for 12 months - the last time
transactions went below 5 per month was in December 2010, when an
average of just 4 properties were sold per branch. However,
traditionally agents do not expect great numbers of sales in this
Available housing stock also contracted slightly, with 62
properties on the market in December compared with 65 in November,
suggesting sellers were keen to hold-off from entering the market
until the New Year, as is again to be expected during this
First Time Buyer (FTB) levels saw an increase, up from 19 per
cent in November to 21 per cent in December, although this part of
the market continues to suffer from harsh lending restrictions and
high deposit requirements.
You can view the full market report by clicking here.