UK Housing Demand Hit Highest Level For October
The number of prospective buyers in the UK reached its highest level ever for the month of October, new figures have shown. The average number of buyers registered per estate agent branch reached 451 during the month, a fall from 525 in September, according to National Association of Estate Agents
Published -
Nov 27, 2020 8:19 PM
The number of prospective buyers in the UK reached its highest level ever for the month of October, new figures have shown. The average number of buyers registered per estate agent branch reached 451 during the month, a fall from 525 in September, according to National Association of Estate Agents (NAEA) Propertymark’s October housing report. However, this was the highest number on record for the month of October, and an increase of almost a third (32%) from October 2019 when there were just 341 house hunters on average per branch. An average of 12 sales were agreed per branch in October this year, the highest recorded for the month since 2006, despite a small decrease from 14 the month prior. Year-on-year, the number of sales per branch increased by 50%, rising from eight in October 2018 and October 2019, the data revealed. The number of sales to first-time buyers climbed from 19% to 21% in September. Year on year this represented a fall of six percentage points from October 2019. Meanwhile, the number of properties available per member branch stood at 39 in October, falling marginally from 41 in September. In October, 7% of properties sold for more than the original asking price, a marginal fall from September’s 8%. The majority (58%) of properties sold for less than the original asking price in October.
Tags : INTERNATIONAL UK Property House Hunters Estate Agents NAEA Propertmarks