Housing market up and running again: NAEA Propertymark - Mortgage Strategy

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The number of people looking to buy a house registered per estate agent branch rose 7 per cent against February (compared to this month because of the lockdown), says NAEA Propertymark.

In total, estate agent branches saw this figure rise from an average of 322 to 344.

Alongside this, housing demand rose 12 per cent on an annual basis although supply fell 15 per cent compared to May 2019.

NAEA Propertymark’s May report also shows that in May, the number of sales to first-time-buyers came in at 32 per cent compared to 22 per cent in February.

Meanwhile, the average number of sales agreed per each branch stood at five in May, which is a fall of 44 per cent, or nine sales, compared to February. During May, 70 per cent of these sold for less than the original asking price.

NAEA Propertymark chief executive Mark Hayward says: “It’s great to see the market up and running again, bringing some much-needed confidence back. With estate agents following new socially distanced protocols, and the demand for viewings soaring, we are set for an exciting summer.

“It will be interesting in the coming months to see if the lifestyle changes triggered by the Covid-19 pandemic will have an impact on house sale locations, especially in and around commuter towns,” he continues.


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