Housing Market Continues to Show Resilience as Demand from Buyers Remains High

Housing market demand from prospective buyers dropped by remains high for the year, while supply decreased and number of sales remained static.

Headlines
  • Demand from prospective buyers dropped marginally but remains high for the year
  • Supply of available housing decreased
  • The number of sales agreed per branch stayed the same
  • NAEA Propertymark issues June Housing Report

Demand for housing

  • The number of house hunters registered per estate agent branch fell slightly in June, from 307 to 305, despite this, the number of prospective buyers remains high for the year
  • Year-on-year, housing demand is almost aligned, with just a one per cent difference from June 2018 when there was an average of 308 house hunters per branch.

Supply of available properties

  • The number of properties available per member branch dropped in June, from 41 in May to 37
  • Year-on-year the supply of housing is down marginally, with 39 properties available to buy in June 2018.

Housing Market Continues to Show Resilience as Demand from Buyers Remains High

Figure 1: Supply of available properties per branch

Sales agreed

  • The number of sales agreed per member branch remained at nine in June, the same level for the second month running
  • Year-on-year, the number of property transactions stayed the same, with an average of nine sales agreed per branch in June 2018.

Sales to FTBs

  • The number of sales made to FTBs in June decreased, falling from 26 per cent in May, to 23 per cent in June
  • Year-on-year, this is a decrease of six percentage points from June 2018 when it stood at 29 per cent.
Mark Hayward, Chief Executive, NAEA Propertymark said:

“Although we’ve seen a slight drop in supply and demand, the housing market is still stronger than expected, showing signs of resilience amid political uncertainty. The warmer months can often result in the market quietening down, but we’re not yet experiencing this just yet as demand remains high for the year.

“We’ll need to see if this trend continues over the next few months before we can conclusively say that confidence in the market has returned.”

 

Kindly shared by NAEA Propertymark