Housing demand highest in 16 years

The number of prospective buyers registered per estate agent branch rose by 33% from 396 in August to 525 in September, NAEA Propertymark’s September Housing Report has found. This is the highest number of house hunters recorded since June 2004, when 581 were recorded per branch. The average number of sales agreed per estate agent branch stood at 14 in September, the highest figure recorded since August 2006, and an increase from 12 sales agreed per branch in August. However the proportion of sales made to first-time buyers stood at just 19% in September, the lowest amount recorded since March 2013. Mark Hayward, chief executive, NAEA Propertymark, said: “The pressure of completing sales ahead of the stamp duty holiday deadline means we’ve seen a large spike in buyers and sellers coming to the market.”

Property Wire (30/10/2020)