Friday, September 23, 2011
KEY FINDINGS
- The average number of house-hunters registered per branch
increased from 299 in July to 304in August
- Number of sales agreed per branch increased slightly, moving
from an average of 7 in July to in August
- Average number of properties available for sale per branch
decreased from 70 in July to 65 in August
- Percentage of First Time Buyers (FTBs) decreased slightly from
21 per cent to 20 per cent between July and August
Throughout August, NAEA agents reported increases in both the
level of demand for property and the number of completed
transactions, reflecting a better than expected summer for the UK
housing market.
House-hunter levels increased for a second consecutive month,
with 304 people registering with anestate agent in August, compared
with 299 in July. This is the highest post-recession figure
recorded(previous highest figure; September 2007 (326)) however, it
is important to remember that demand isconcentrated in some parts
of the country, and not others.
Despite a decrease in stock levels, sales remained aligned with
figures recorded throughout the firsthalf of the year, moving up
from an average of 7 to 8 per month. The stability in sales
suggests thosesellers who remain in the market continue to price
their property sensibly. Anecdotal evidence from NAEA regional
executives suggests three to four bedroom family homes have been
the mostappealing to house-hunters.
Mortgage finance continues to prevent many FTB levels gaining
entry to the housing market. Augustsaw a slight dip in its market
share, moving from 21 per cent to 20 per cent. Assisting this part
of themarket is vital to gaining upward momentum that will help to
grow the wider property market.
Please download the full Housing
Market Report for August 2011