Thursday, March 4, 2021
UK

Housing demand hit four-year high in December

Housing demand

The average number of sales agreed per estate agent branch stood at eight in December which is a decrease from 13 in November

Despite falling by over 40% against November’s figures, house hunters were out in record numbers over the festive period hitting the highest levels seen since 2016.

The latest data released by NAEA Propertymark covering the December period has shown that during the month the average number of prospective buyers registered per estate agent branch stood at 348, a 41% decrease from 580 in November – the lowest number recorded since May when the property market first reopened following the governments’ lockdown. However, it is the highest number recorded for December since 2016.

The average number of sales agreed per estate agent branch stood at eight in December which is a decrease from 13 in November.

This is the highest figure recorded for the month of December since 2006 when the number also stood at eight.

The number of sales made to FTBs stood at 23% in December, falling marginally from 24% in November. Year-on-year, this is a decrease of five percentage points from 29% in December 2019. The number of properties available per member branch stood at 33 in December, falling from 40 in November.

In December, five per cent of properties sold for more than the original asking price. This is a decrease from November when 10% of properties sold for more than asking price. The majority (67%) of properties sold for less than the original asking price in December.

Mark Hayward, Chief Policy Advisor, Propertymark comments: The number of potential buyers in the market fell significantly in December after Novembers’ record high. While we would ordinarily expect to see a lull over the festive period, these numbers show that the tightening of lockdown restrictions, coupled with the reality that many individuals would no longer meet the stamp duty deadline, has exacerbated this.

Important:

The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

three × 5 =