First Time Buyers take advantage of a quieter month in December says naea/propertymark
Latest naea/propertymark Housing Report – December 2017 headlines ‘First Time Buyers Capitalise on December Housing Slump’
The report found that the number of house hunters registered per estate agent branch fell by 20 per cent in December, and that in line with this, the rate of sales per branch also fell.
First Time Buyers (FTB’s) took it upon themselves to take advantage of the quieter month, as the percentage of sales made to the group increased to 32%, according to the naea/propertymark report, stating that this is the highest rate seen since September 2016 when it stood at 32% again, and up from 27% in November.
Mark Hayward, Chief Executive said: “We see this year in, year out. Buyers take a back seat in December to enjoy the festivities, while sellers keep their homes on the market in the hope that someone will take interest and make an offer. What we don’t usually see is FTBs capitalising on this slump and using it to their advantage – 44 per cent of our members think that the Chancellor’s stamp duty cut for FTBs will encourage more to make offers, and looks like that’s what we’re starting to see. Hopefully this enthusiasm won’t falter when the second and third time buyers come back onto the market in the new year and competition hots up again.”
Read the naea/propertymark Housing Report – December 2017 in full click here.
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