Number of house hunters surges 22% in January
The number of house hunters has risen by 22% in January, from 313 to 382 people registered per estate agent branch, according to the latest data from NAEA Propertymark.
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%), increasing from 297 house hunters per branch in January 2019.
As demand rises, the supply of available properties fell from 41 per member branch in December to 38 in January – the lowest level seen since June 2019.
However 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 compared to December 2019 and January 2019.
In January, the number of sales made to first-time buyers remained steady at 29%. 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%.
Mark Hayward, chief executive of NAEA Propertymark, commented: “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.”
Source: Financial Reporter