NAEA found that year-on-year, housing demand is up, rising from 282 house hunters per branch in November 2018. The number of sales agreed per member branch fell to seven in November, the lowest it has been since March.
Sales to FTBs
According to the data, the number of sales made to FTBs increased marginally in November, to 28 per cent. Year-on-year, this is an increase of five percentage points from November 2018 when it stood at 23 per cent.
Supply of available properties
The number of properties available per member branch remained the same in November, standing at 39. Year-on-year, the supply of housing is up, rising from 35 in November 2018.
Mark Hayward, Chief Executive, NAEA Propertymark comments: “It’s no surprise that activity in November has hit a lull, as buyers and sellers hold off on purchases until the outcome of the General Election and Brexit is clear. This is coupled with the seasonal time of year, as Christmas festivities typically taking priority over any plans to buy or sell, as the number of sales agreed hit an eight-month low.
The housing market now has reassurance from a Government, which will in turn inject some confidence in the market for both buyers and sellers. Now the political impasse is resolved and it’s clear 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.”
