June Property Market Report Shows Improvement

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The latest June property market report from ARLA Propertymark found that the market is beginning to bounce back through June with positive summer sales.

The June property market report found that the number of sales agreed per branch rose from eight in May to nine in June, demonstrating buoyancy in the usually quiet summer months. However, this figure is 18 per cent lower than that recorded in June last year when agents saw a total of 11 sales per branch.

The proportion of sales made to FTBs also rose by five per cent to 29 per cent in June. This marks the highest amount recorded since February.

In addition, the number of properties available per branch rose in June reaching 39 up from 37 the previous month. This also marks a five per cent increase year on year as agents also marketed 37 properties in June 2017. Observing a five-year comparison, it can be seen that the number of properties has declined by 15 per cent from 46.

The number of house hunters registered per estate agent branch fell by 12 per cent, from 351 in May to just 308 in June. This marks the lowest number of buyers recorded since March and is down 20 per cent in comparison to June 2017 when there were 384 potential buyers registered per branch.

Chief Executive, NAEA Propertymark Mark Hayward, spoke out about the findings: ‘We have seen a rise in the number of sales which is typical of this time of year as buyers and sellers seek to complete their property transactions ahead of the quieter holiday period. If a seller is hoping to avoid the summer slowdown and is looking to market their home once this has passed, they can spend some time over the coming months ensuring their home is ready for sale, whether it be decluttering, or refreshing the decor.’

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