UK housing market report for March 2012
- Average number of house-hunters registered per branch increased
from 293 in February to 297 in March.
- Number of sales agreed per branch was unchanged with an average
of 7 in February and March.
- Average number of properties available for sale per branch
decreased from 63 in February to 61 in March.
- Percentage of first time buyers (FTBs) increased slightly from
23 per cent in February to 24 per cent in March.
The UK housing market showed improvements in demand for property
with sales holding firm between February and March as FTBs
continued to capitalise on the Stamp Duty Holiday which the
Government brought to an end on the 24thMarch.
NAEA member agents reported that the number of house hunters
increased to its highest level in five months with an average of
297 registering (October 2011; 305). Moreover, this figure is well
above the number recorded in recent years. Evidence from NAEA
member agents suggests that the incentive of escaping Stamp Duty by
completing a house purchase before the end of the Stamp Duty
holiday drove demand amongst FTBs during March.
The number of sales made to FTBs looking to get onto the UK
housing ladder increased from an average of 23 per cent of the
overall market share in February to 24 per cent in March. This
change of one percentage point represents a record 10-month high
for this part of the market (May 2011; 24 per cent).
Sales held firm during last month with an average of 7 made per
branch; the same as February. This stability is likely to have been
helped by the boost in interest from FTBs, and bodes well for the
market's ongoing stability.
Supply levels reduced from an average 63 per branch in February
to 61 per branch in March.
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