Number of sales agreed in November dropped says NAEA
Press release and November Housing Market report today from NAEA headlined ‘Record number of properties sold at less than asking price’
They state: Both demand for properties and supply of available stock fell in November, the number of sales agreed also dropped.
Mark Hayward, Managing Director, National Association of Estate Agents (NAEA) comments on the findings: “Following the EU referendumearlier this year, we faced a few months of low confidence from buyers and sellers, although in October the market bounced back to full form. We expect this is still the case, and this month’s slow-down is simply down to seasonality–many sellers hold off until January to put their properties on the market, and likewise buyers are more inclined tostart the year with a property search, rather than attempting it over Christmas. Likewise, although a large number of sales were made below asking price in November, this can also be put down to the time of year”.
Read the NAEA press release including November Housing Market report in full click here
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