Propertymark – House hunters on the rise in July
The number of house hunters registered with estate agents increased from 305 per branch in June to 316 in July, according to NAEA Propertymark.
Prospective buyer numbers were also higher than July 2018 when there were 303 per branch.
The number of properties listed per branch also increased from 37 in June to 41 in July, although the figure was unchanged from a year ago.
Agents managed to close nine sales per branch in July – the same monthly total reported for the third month running.
The proportion of all sales that were to first-time buyers rose from 23 per cent in June to 26 per cent in July, although this was slightly lower than last July’s figure of 30 per cent.
NAEA Propertymark chief executive Mark Hayward says: “The summer is typically a quieter period as house buyers and sellers put their plans on hold with housing market activity stalling as a result.
“However, this has not been the case this year.
“Buyers can only delay the need to move for so long and we’re now seeing buyers storm the market hoping to complete transactions before the end of October.”
Source: Mortgage Strategy