August Sees Surge Continue for Prospective Property Buyers

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August saw the surge of prospective property buyers continue, according to the latest housing report from NAEA Propertymark.

The housing report, compiled from data taken from over 12,000 NAEA Propertymark member offices, showed that the number of prospective property buyers registered per estate agent branch increased in August, from 316 to 433, a rise of 37 per cent on the previous month figures.

The year-on-year rise was very similar as housing demand grows, up from 320 prospective property buyers per member branch in August 2018.

The number of properties available for sale per member branch also increased in August, up to 44 available properties from 41 in July.

Again, the annual rise was seen to be similar, with the supply of available properties up from 40 per member branch in August 2018.

Actual sales agreed to prospective property buyers also showed no sign of a slowdown as the number of sales agreed per member branch remained at nine in August, the same level for the fourth month running as the strong summer continued to improve.

The number of property sales made to first time buyers also remained steady in August at 26 per cent, though this showed a rise of six percentage points from August 2018 when it stood at 20 per cent, a good sign of a strengthening UK property market.

Mark Hayward, Chief Executive, NAEA Propertymark said: ‘The summer months can often result in the market quietening down as families stop for their holidays, but our data has shown demand continually increasing over the warmer period and the number of sales agreed remaining high for the fourth month in a row.

‘The ongoing Brexit uncertainty is unsettling, but we are seeing prospective buyers are returning to the marketplace as they realise that they can’t keep putting life on hold indefinitely.’

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