The latest market snapshot from the National Association of Estate Agents shows that the late summer period was a good one for the market despite the never-ending uncertainties surrounding Brexit.
In terms of demand, the number of house hunters registered per estate agent branch increased to 433 in August from 316 in July.
The number of properties available per member branch also increased in August, from 41 in July to 44.The summer months showed no sign of a slowdown as the number of sales agreed per member branch remained at nine in August, the same level for the fourth month running.
The number of sales made to first time buyers also remained the same in August, at 26 per cent. Year-on-year, this is an increase of six percentage points from August 2018 when it stood at 20 per cent.
“The summer months can often result in the market quietening down as families stop for their holidays, but our data has shown demand continually increasing over the warmer period and the number of sales agreed remaining high for the fourth month in a row” explains Mark Hayward, the NAEA Propertymark chief executive.
“The ongoing Brexit uncertainty is unsettling, but we are seeing prospective buyers are returning to the marketplace as they realise that they can’t keep putting life on hold indefinitely” he adds.