Housing Report - August 2017


Key Findings

  • Summer holiday season pushed down demand for housing in August
  • The number of properties on the market increased marginally
  • Sales to first-time buyers (FTBs) and the number of sales agreed stayed the same

Demand for housing

  • As holidaymakers set off abroad last month, the number of house hunters registered at estate agents dropped to a 12 month low, with 343 per branch on average.
  • This was down from 347 in July and 384 in June.
  • It hasn’t been this low since last August (2016), when estate agents had 287 house hunters registered per branch.

Housing Market Report

Figure 1: Number of house hunters registered per branch from August 2016-2017

Supply of properties

  • The number of properties available to buy on estate agents’ books increased marginally from 35 in July, to 37 in August.

Sales agreed and sales to first-time buyers (FTBs)

  • The proportion of sales made to FTBs remained at 23 per cent in August, having fallen from 30 per cent in June.
  • As expected during the summer, the number of sales agreed per branch also remained low in August, with eight on average per branch.

Mark Hayward

Mark Hayward

Chief Executive

“House hunters tend to put their plans on hold over the summer months while they prioritise holidays, and as a result of this trend, stock is usually lower. However, while we saw the number of properties available increase very marginally last month, it wasn’t remotely enough to start to close the gap between supply and demand. We shouldn’t take August’s decline as a sign of things to come – we’ll see the market bounce back in September and ramp up towards the end of the year as house buyers desperately try to complete transactions before Christmas.”