NAEA records July dip in market activity

8th September 2017

The number of homes on the market has fallen to its lowest July figure since records began in 2002. The National Association of Estate Agents said the number of homes advertised per estate agent branch had fallen to 35 in July, from 30 in June. The number of people looking for a home fell 10% to 347 in the same period. The number of homes sold above asking price also fell to just 3%, the NAEA said, while the number of homes sold below asking price rose to 80%. The proportion of sales made to first-time buyers fell to 23%, the lowest level since last September. “It is natural for the market to dip in the summer and then recover," said Mark Hayward, the NAEA's chief executive.

City AM (30/08/2017)