Housing Report, July 2020

Number of houses sold reaches 13 year high following stamp duty holiday

Key Findings

  • An average of 13 sales were agreed per branch in July, the highest figure recorded since June 2007
  • One in 10 (eight per cent) properties sold for more than the original asking price
  • Housing demand was 12 per cent higher in July compared to June

Sales agreed

  • The average number of sales agreed per estate agent branch stood at 13 in July following the Chancellor’s announcement of a stamp duty holiday.
  • This is the highest figure recorded since June 2007 when 13 sales were also recorded per member branch.
  • Year-on-year, the number of sales per branch has increased by 44 per cent, rising from nine recorded in July 2019.

What properties sold for

  • In July, eight per cent of properties sold for more than the original asking price, a fall from 10 per cent in June.
  • Three in five (60 per cent) properties sold for less than the original asking price in July.

Demand for housing

  • In July, the number of house hunters registered per estate agent branch rose by 13 per cent, increasing from 379 in June to 428.
  • Year-on-year, housing demand is up by a third (35 per cent), rising from 316 in July 2019.

Supply of available properties

  • The number of properties available per member branch stood at 43 in July, increasing from 37 in June.
  • Year-on-year, the supply of housing increased marginally from 41 properties per member branch in July 2019.

Sales to FTBs

  • The number of sales made to FTBs stood at 25 per cent in July, a fall from 29 per cent in June.

Quote mark

It’s positive to see the market continuing to boom with clear interest from both buyers and sellers. Usually we would expect to see a lull in activity during the summer months; however, demand remains unabated with no signs that this will not continue. With the recent stamp duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer.

mark Hayward

Mark Hayward
Chief Executive
NAEA Propertymark