NAEA Propertymark has issued its August housing report.
In the month, one in eight (13 per cent) properties sold for more than the original asking price, a rise from eight per cent in July, and ten per cent in June.
The majority (53 per cent) of properties sold for less than the original asking price in August.
The average number of sales agreed per estate agency branch stood at 12 in August, a slight decrease from 13 in July. This is the highest figure recorded for the month of August since 2007, when the number of sales per estate agent branch also stood at 12.
Year-on-year, the number of sales per branch has increased by 33 per cent, rising from nine in August 2019.
In August, the number of house hunters registered per estate agent branch fell from 428 in July to 396 and the number of properties available per member branch stood at 40, falling from 43 in July.
The number of sales made to FTBs stood at 23 per cent in August, a fall from 25 per cent in July.
Mark Hayward, Chief Executive, NAEA Propertymark said:
“It’s interesting to see that one in eight properties sold for more than asking in August this year. Last month, we witnessed a boom in the number of prospective buyers following the government’s announcement of a Stamp Duty holiday, and it seems this is increasing the level of competition in the property market.
“With the increase in the number of prospective buyers since this announcement, many buyers are clearly willing to pay over the asking price in order to secure their dream home.”
Anyone else just gone earily quiet last 5 days?
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Yes, enquiries have fallen off a cliff 🙁
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Since the 2nd lockdown. Its gone dead. What did they expect.
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A coup[le of follow-up questions are, how much over the asking price are the 13%? What is the monetary value of the sales agreed pipeline? What is the likely completion figure? How many of the 13% complete? And ultimately, what does this mean for profitability?
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Have any of these completed yet?
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…..and Private Fraser reported “We’re Doomed, We’re all Doomed!”.
Not yet.
Market settled back to normal ebb & flow for time of year.
Let’s see where we are Spring 2021.
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