Vendors & Buyers Return To The Market

Posted on: 16 July 2018

Vendors & Buyers Return To The Market

Although the property market was ever so sluggish at the beginning of 2018, recent reports from the National Association of Estate Agents (NAEA) indicates a rise in activity in recent months, from both vendors and buyers.

An increase in market movement is by no means a surprise during the warmer months, but the new figures from the NAEA's latest housing report found that the month of May saw a 12% increase in the number of properties available to buy.

On average, each estate agency branch throughout the UK had 33 homes available for sale in the Month of April, a number that rose to 37 per branch in May.

While the rise in homes on the market isn’t a giant leap towards the peaks seen in 2008 of 97 homes per branch, these figures are still a welcome sign as demand has continued to greatly outpace supply over recent years.

As expected, demand is still on the rise as prospective buyers per branch saw a more modest jump of 337 in April to 351 in May. In comparison to the same month in previous years, May 2016 recorded 304 buyers per branch, showing a steady increase in contrast to the fluctuating number of homes coming to the market.

The report also found that the number of sales agreed remained static, with both April and May recording 8 sales per branch, a figure that is down by 2 in comparison to 2017.

It was also revealed that the percentage of property sales going to first-time buyers has seen little change, with approximately 1 in 4 properties being sold to those taking their first step onto the property ladder.

Chief Executive of the NAEA – Mark Hayward – said that some of this change in activity could be attributed to the summer holidays, he said “They’re hoping to get everything tied up so they can enjoy their summer holidays without worrying about viewings.

“But those willing to be more flexible might do well to hold off until the market’s quieter in July and August.

“Not everyone heads abroad over the summer, with lots of people opting for winter sun instead, so while the market is undoubtedly quieter, competition is a little less intense, which might better suit some buyers and sellers.”

Share:


Recent Articles

10 January 2025

Ice Skating Isn’T Just For Christmas

Engaging in ice skating after the Christmas holidays is a fantastic method to maintain your health while also making unforgettable memories with family and friends. Although the festive period might make you feel somewhat lethargic due to indulgent meals and cosy nights in, ice skating...

9 January 2025

Data Proves The Looming Stamp Duty Deadline Is Stimulating The Market

  The UK property market is currently benefiting from the upcoming Stamp Duty Land Tax (SDLT) changes, which will take effect on April 1st.   In order to take advantage of the current, more favourable SDLT rates prior to the implementation of the new...

8 January 2025

Why This Is The Most Anticipated Home DéCor Trend For 2025

Due to a change in consumer priorities and increased awareness of environmental issues, sustainable and eco-friendly materials are expected to dominate home décor trends in the UK in 2025. Over recent years, sustainability has evolved from a fad to a way of life that combines...

Get an instant online valuation

Find out how much your property is worth