A record number of properties have been reaching the sales agreed stage since the Stamp Duty holiday was announced in July, agents claim.
Analysis from NAEA Propertymark has revealed the average number of sales agreed per estate agent branch stood at thirteen in July, matching the record high previously hit in 2007.
The number of sales was also up from nine in July 2019.
Agents reported 8% of properties sold for more than the original asking price last month, a fall from 10% in June.
Three in five sold for less than the original asking price in July.
Demand and supply also increased, NAEA Propertymark said.
The number of house hunters registered per estate agent branch increased from 379 in June to 428 in July, while the amount of stock per member branch increased from 37 to 43 over the same period.
Sales to first-time buyers did, however, drop from 29% of transactions in June to 25% in July.
Mark Hayward, chief executive of NAEA Property-mark, said: “It’s positive to see the market continuing to boom with clear interest from both buyers and sellers.
“Usually we would expect to see a lull in activity during the summer months, however, demand remains unabated with no signs that this will not continue.
“With the recent Stamp Duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer.”
True picture of the market will be revealed at the end of the year.
Along with recession, we also have Brexit consequences to work with.
Interesting market ahead – most agencies will not survive to keep open.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“Analysis from NAEA Propertymark has revealed the average number of sales agreed per estate agent branch stood at thirteen in July, matching the RECORD HIGH previously hit in 2007.”
Pandemic seems to have turned the market on its head where London usually leads the way
The regions going great guns with some Countrywide Dixons Midlands offices showing 70%+ sold of their inventories
Those average stats meaningless to Foxtons Maida Vale office
90 sales instructions showing on Zoopla with just 1 solitary property under offer .Likewise Clerkenwell a sales inventory of 57 with just 2 showing under offer.
That isn’t buttering any parsnips .
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Just the issue of getting all of these properties through to exchange now then!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Every Silver Lining has a Cloud…..
Let’s see what January 01/2021 looks like.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register