What properties sold for

• In January, one in nine (11 per cent) properties sold for more than the original asking price.
• This the highest figure recorded since August last year and the highest figure on record for the month of February since 2016.
• The majority (57 per cent) of properties sold for less than the original asking price.

Time taken from offer to exchange

• In January, a record number of property transactions (26 per cent) took over 17 weeks from the offer being accepted to exchanging contracts.

Sales to FTBs

• The number of sales made to FTBs rose to 25 per cent in February, from 23 per cent in January.
• This is the highest figure recorded since July 2020 and year-on-year is an increase from 22 per cent in February 2020.

Demand for housing

• In February, the average number of prospective buyers registered per estate agent branch stood at 388, a 20 per cent decrease from 487 in January.  
• However, this is the highest figure recorded for the month of February since 2017, when the figure stood at 425.

Time taken from offer to exchange

• In February, the number of property transactions taking over 17 weeks from the offer being accepted to exchanging contracts, increased again to 27 per cent from 26 per cent last month – the highest figure on record.

Sales agreed

• The average number of sales agreed per estate agent branch stood at 11 in February, an increase from 10 in January.
• Year-on-year, this figure is up from nine sales agreed per estate agent branch in February 2020 and seven sales agreed per estate agent branch in February 2019.

Supply of available properties

• The average number of properties available per member branch stood at 34 in February, falling from 38 in January.