In their Monthly Market Survey the NAEA reports that the average estate agent saw their property book grow by 6 to 64 properties. This is deemed great news for the housing market, following the NAEA's recent warning that any recovery could be held back by a shortage of homes for sale.
The market also saw an increase in first-time buyer (FTB) activity, up 14% and accounting for 36% of all estage agent agreed sales.
However despite the rise in property sales and FTB's, there was still some reason for concern with the number of househunters dropping by 54 per agent, and some economists attributing the recent price increases to a shortage of stock warning that prices could begin to drop an increase in homes flood the market.
The average number of sales made per branch also fell to an average of 7.6 in August, compared with 8.6 in July.
Gary Smith, president of the NAEA, said:
"August always sees a dip in activity, regardless of the wider economic picture, and we believe that indications are that the UK housing market could emerge stronger and more quickly than previously considered possible.
"Particularly pleasing is the rise in the supply of housing and the continued presence of first-time buyers in the market as they often represent the essential foundations of sales chains."
