House hunter demand sets 17-year record: Propertymark | Mortgage Strategy

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The demand for housing in the whole of 2021 saw an average of 459 home hunters registered per Propertymark member estate agent branch – the most since 2004, when the 12-month average stood at 475.

However, although January 21 housed an average of 38 properties per branch – which Propertymark describes as being a healthy state of affairs – this sunk to 19 homes per branch by the end of the year, a record low.

Another record was set for agreed sales. In March, April and May, an average of 12 homes per branch sold, which is the highest seen since 2007.

And, the report says, since 2013, sales “were predominantly agreed at below asking price… however, a shift in March 2021… sees most homes being agreed for sale at asking price or over.”

It adds that the use of sealed bids has increased “to meet the demand fairly”.

Propertymark chief executive Nathan Emerson comments: “[Last year] saw huge demand from buyers looking to change location, job, property type and size and driven by the search for a change of lifestyle. Traditionally the summer months hold a dip in demand but 2021 defied all rules we have become accustomed to.

“Going into 2022, the demand has continued into January but the number of homes being marketed still needs to pick up.

“There is a worry that although those looking to move are aware they can secure a good price for their home, with the rising cost of living, utilities and rising house prices consumer confidence is starting to take a hit.”


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