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The latest housing report from NAEA Propertymark shows that December ended the year on a positive note for the property market.
The housing report showed that although the number of property sales agreed per member branch fell from seven in November to six in December, year on year the number of sales agreed has increased, from five sales agreed in both December 2017 and December 2018.
The number of sales made to first time buyers increased marginally in December, rising from 28 per cent in November to 29 per cent, according to the housing report. Year on year, this is an increase of five percentage points from December 2018 when the number of sales made to the group stood at 24 per cent.
Demand fell slightly on a month basis, with the number of house hunters registered per estate agent branch decreased in December, falling from 332 to 313. However, year on year, housing demand is up, rising from 304 house hunters per branch in December 2018.
Property supply is slightly up, with the housing report showing that the number of properties available per member branch rose from 39 in November, to 41 in December. This is the highest seen since August 2019 when it stood at 44. Though year on year, the supply of housing is down marginally, falling from 42 in December 2018.
Mark Hayward, Chief Executive, NAEA Propertymark commented: ‘After a period of suppressed market activity due to Brexit and political uncertainty, the clear outcome of the General Election in December has injected some much-needed confidence into the market.
‘Despite it typically being a quieter time of year seasonally, our figures have shown positive trends with both demand and the number of sales being high in comparison to previous years, as both buyers and sellers no longer hold off on their plans. This is an encouraging close to the year and we hope to see more of this stability in 2020.’