Housing Report, October 2019

Political uncertainty leaves housing market in limbo

Key Findings

  • The number of prospective buyers and the supply of available housing fell
  • The number of sales agreed remained the same whilst sales to FTBs decreased

Supply of available properties

  • The number of properties available per member branch fell in October, from 40 in September to 39, the lowest amount seen since June
  • Year-on-year, the supply of housing is down, falling from 40 in October 2018.

House Hunters

Figure 1: Supply of available properties per branch

Demand for housing

  • The number of house hunters registered per estate agent branch decreased in September, from 433 to 387
  • Year-on-year, housing demand is up, rising from 338 house hunters per branch in September 2018.

Sales to FTBs

  • The number of sales made to FTBs decreased in October, to 27 per cent from 30 per cent in September 
  • Year-on-year, this is an increase of four percentage points from October 2018 when it stood at 23 per cent.

Sales agreed

  • The number of sales agreed per member branch remained at eight in October.

Quote mark

'Brexit is undoubtedly causing uncertainty in the housing market, which in turn affects sentiment and decision-making. On top of both a Brexit deadline and a looming general election, we’re also entering a quieter period seasonally, where we typically see the market slow down as people put their moving plans on hold until the New Year. Once the General Election has passed, and there’s clarity on how and when we’ll be leaving the EU, we hope there will be a degree of certainty which may trigger a flurry of activity in the New Year.'

mark Hayward

Mark Hayward
Chief Executive
NAEA Propertymark