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An interesting year for the housing market – 2019 trends

Wednesday 04 December 2019

Propertymark has analysed its sales and lettings data to reveal trends from the year. Supply has dropped considerably over the past decade while demand has increased, but year-on-year has remained relatively stable in the face of Brexit uncertainty.

Housing market: supply and demand

In 2019, demand was slightly higher than last year with an average of 320 house buyers registered per branch, compared to 318 on average throughout 2018. Looking back over the last decade, demand is up by 16 per cent, from 275 per branch in 2009.

The number of properties available to buy hasn’t changed significantly year-on-year, with 39 available per branch throughout 2018 and 38 in 2019. The month of August saw the highest number of properties this year, with an average of 44 available to buy. Supply has dropped considerably over the last decade, from 65 on average per branch in 2009.

Sales agreed

The number of sales agreed per branch through the year remained the same at eight on average per month in 2019. Historically, this figure has stayed consistent, only moving between nine and seven between 2009 and now.

First-time buyers

The proportion of total sales made to first-time buyers (FTBs) increased by two percentage points in 2019, from 25 per cent in 2018 to 27 per cent.

Quote mark

'2019 has been an interesting year for the property market. House buyers and sellers have been faced with a lot of uncertainty, which in turn affects sentiment and decision-making.

Activity in the housing market has remained consistent when compared to the last year, which was expected, as buyers and sellers hold off on purchases until the outcome of the General Election and Brexit is clear.'

Lauren Scott

Mark Hayward
NAEA Propertymark Chief Executive

 

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