Boom! 13-year high for number of sales agreed per agency branch

If yet more proof were needed of the housing boom this summer, NAEA Propertymark says its sales agreed data suggests a 13 year high for the market.

The average number of sales agreed per estate agent branch stood at 13 in July – the latest data available – following the announcement of a stamp duty holiday.

This is the highest figure recorded since June 2007 when 13 sales were also recorded per member branch.

Year-on-year, the number of sales per branch has increased by 44 per cent, rising from nine recorded in July 2019.

In July, eight per cent of properties sold for more than the original asking price, a fall from 10 per cent in June. However, three in five properties sold for less than the original asking price.

In terms of demand in July, the number of house hunters registered per estate agent branch rose by 13 per cent, increasing from 379 in June to 428.

Year-on-year, housing demand is up by a third, from 316 in July 2019.

Looking at supply, the number of properties available per member branch stood at 43 in July, increasing from 37 in June. Year-on-year, the supply of housing increased marginally from 41 properties per member branch in July 2019. 

The number of sales made to first time buyers stood at 25 per cent in July, a fall from 29 per cent in June.

“It’s positive to see the market continuing to boom with clear interest from both buyers and sellers. With the recent stamp duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer” says NAEA Propertymark chief executive Mark Hayward.

Source: https://www.estateagenttoday.co.uk/breaking-news/2020/8/boom-13-year-high-for-number-of-sales-agreed-per-agency-branch?fbclid=IwAR2Zt4D42yxrY8jYLhSCOrTYgit2Q2rSyizCGEs7t15qF2Y43HjvDc-iyys