NAEA Propertymark’s August Housing Report is published today

NAEA Propertymark’s August Housing Report is published today, which shows that First-Time Buyers made up 28% of sales during the month.

Key points from Report:

• 28% of sales agreed in August were to first-time buyers
• 37% of properties sold for over the original asking price – an increase of 185% from August 2020
• Demand increased with an average of 435 buyers registered per branch, a 10% increase from August 2020

What properties sold for:

• In August, 37 per cent of properties sold for more than the original asking price.
• This is an increase from July when 31 per cent of properties sold for more than the original asking price, and a staggering increase of 185% from August 2020 when just 13% of properties sold for over the asking price.
• This is also the highest figure on record for the month of August.

Sales agreed:

• The average number of sales agreed per estate agent branch fell slightly to 9 in August, from July’s figure of 10.
• Year-on-year, this figure is average.

Sales to FTBs:

• The number of sales made to FTBs rose to 28 per cent in August from July’s figure of 20 per cent.
• This is the highest this year, and since June 2020 when the figure stood at 29%.
• Year on year, this is the highest August since August 2016 when it was also 28%.

Supply of available properties:

• The number of properties available per member branch stood at 23 in August, a drop from July’s figure of 28 per branch.
• This means there is an average of 19 buyers for every available property on the market.

Demand from house-hunters:

• The average number of house hunters registered per estate agent branch stood at 435 in August, which is a marginal increase from 428 in July.
• Year-on-year, this is a 10 per cent increase from August 2020 which stood at 396.

Nathan Emerson, Chief Executive, Propertymark, comments:

“This month’s report shows an enduring appetite amongst buyers, including the ongoing wave of new buyers securing their first homes. Lifestyle changes are still prevalent, and buyers are now looking to a future which is very different from the one they envisioned 2 years ago. The search for green space, home offices and more flexible living is a trend that is unlikely to see demand diminish before the new year.”

Kindly shared by NAEA Propertymark