The Number of House-Hunters Up 22 Per Cent in January
According to the NAEA Propertymark January Housing Report, the number of house-hunters increased in the year while housing supply fell.
Demand for housing
- The number of house hunters registered per estate agent branch increased in January, rising by more than a fifth (22 per cent) from 313 to 382. This is the highest figure seen since September 2019 when there were 387 prospective buyers registered.
- Year-on-year, housing demand is up by more than a quarter (29 per cent), increasing from 297 house hunters per branch in January 2019.
Supply of available properties
- The number of properties available per member branch fell from 41 in December, to 38 in January. This is the lowest seen since June 2019 when it stood at 37.
- Year-on-year, the supply of housing is up, rising marginally from 36 in January 2019.
- The number of sales agreed per member branch rose by a third, from six in December to eight in January.
- Year-on-year, the number of sales agreed has also increased by a third, from seven sales agreed in both January 2018 and January 2019.
Sales to FTBs
- In January, the number of sales made to FTBs remained the same at 29 per cent.
- Year-on-year, this is an increase of three percentage points from January 2019 when the number of sales made to the group stood at 26 per cent.
Mark Hayward, Chief Executive, NAEA Propertymark, comments:
“It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the General Election result.”
“As the Spring Budget fast approaches, we hope to see housing as a priority for the new Chancellor. A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”
Kindly shared by NAEA Propertymark