Pre-Brexit sales spree boosts market – HMR results
Demand has increased over the summer, with a pre-Brexit sales spree and sales agreed remaining high for the fourth month in a row, according to Propertymark’s August Housing Market Report (HMR).
The summer months – often quieter due to family holidays – has seen demand increase, likely due to buyers pushing to complete property purchases before the October Brexit deadline.
Key information from the HMR
Housing demand is growing. The number of house hunters registered per estate agent branch increased in August, from 316 to 433 – also a year-on-year increase, from 320 house hunters per branch in August 2018.
The number of properties available per member branch also increased both in August, from 41 to 44, and year-on-year from 40 in August 2018.
The summer months showed no sign of a slowdown, as the number of sales agreed per member branch remained at nine in August, the same level for the fourth month running.
The number of sales made to FTBs remained the same in August, at 26 per cent. Year-on-year, this is an increase of six percentage points from August 2018 when it stood at 20 per cent.
Mark Hayward, Chief Executive, NAEA Propertymark, said:
“The summer months can often result in the market quietening down as families stop for their holidays, but our data has shown demand continually increasing over the warmer period and the number of sales agreed remaining high for the fourth month in a row. The ongoing Brexit uncertainty is unsettling, but we are seeing prospective buyers are returning to the marketplace as they realise that they can’t keep putting life on hold indefinitely.”
Kindly shared by NAEA Propertymark
