Housing supply at highest level since March this year.
The National Association of Estate Agents (NAEA) yesterday issued their August Housing Market report headlined ‘Supply of Housing Hits A Six Month High’
In the report it states supply of available housing rose to the highest level seen since March this year, the number of houses available for buyers increased to 41 per estate agency branch in August.
The number of sales made to first time buyers (FTBs) increased by 3% in August.
Last month, three quarters of properties sold per NAEA member branch were sold for less than the original asking price.
Mark Hayward, Managing Director, National Association of Estate Agents (NAEA) says: “Following a few months of uncertainty in the market, it’s more than encouraging to see things moving in the right direction. Although we have seen a slight drop in demand, the fact that supply has risen means more choice for those that are looking for a new home and we can see the impact of that because the rise in sales to FTBs was higher than we normally see in August.
To read the NAEA August Housing report in full click here
You May Also Enjoy
Elizabeth line rental growth outpaces wider London market
Rightmove seeks agent views on stamp duty reform to take to government
This property type is setting a new standard
Ahead of the Autumn Budget: What landlords and brokers should watch for
Thousands of HMOs still contain life-threatening hazards
