Propertymark: Housing supply bounces back as spring is in sight
Propertymark has issued its Housing Market Report for February 2022, which shows housing supply has bounced back as spring is in sight.
Key points from the report:
- The average number of properties listed per member agent branch increased by 21%
- Sales agreed are up from 7 per branch in January to 8 in February — the highest since October 2021.
- The proportion of monthly sales to first time buyers have reached their highest point since June 2000, accounting for 37% of overall sales in February. This is up on January’s figure of 29%
What properties sold for:
39 per cent of properties sold for over the original asking price in February.
The number of offers accepted at over the asking price has increased by two per cent month-on-month to 39 per cent.
That is the highest figure since June last year. 41 per cent of sales were agreed at the original asking price whilst just 20 per cent of buyers got bargains at below the asking price.
Sales agreed:
8 sales agreed per member branch in February.
Sales agreed per member branch are up from 7 per branch in January to 8 in February — the highest number of sales since October 2021.
The proportion of monthly sales to first time buyers have reached their highest point since June 2000, accounting for 37 per cent of overall sales in February.
This is up on January’s figure of 29 per cent.
Nathan Emerson, Chief Executive, Propertymark comments:
“It’s very positive to see more properties entering the market. The number of new buyers wanting to register is starting to ease, but agents’ books are still bursting with those still waiting in the wings who have missed out on previous properties.
“The amount of properties going for over the asking price is still a figure that’s over three times more than what we would see in a pre-pandemic market, but with the cost of living, energy and interest rates all looking to increase it’s possible we will start to see buyers being more cautious with their cash.”
See the full February Housing Market Report.
Kindly shared by Propertymark
Main photo courtesy of Pixabay
