The number of sales agreed per branch increased in May according to NAEA Propertymark

The National Association of Estate Agents (NAEA) Propertymark’s monthly UK Housing Report – May 2017  found that only 3% of properties were sold nationally above their asking price, which was down 4% from April 2017 and the lowest since October last year. The number of homes which sold for less than asking price rose to 77% last month,  up 5% from April.

The number of house hunters registered per estate agent branch fell by 8% last month, demand from prospective buyers has risen by 15% since May 2016.

The number of properties available to buy rose by 11% last month to 40 per branch, the number of sales agreed per branch rose from eight in April to 10 in May – the same level seen in March.

Mark Hayward, Chief Executive, NAEA Propertymark said: “As a rule of thumb, periods of political uncertainty impact the way buyers and sellers interact with the housing market. In May, it looks like new buyers were stalling their house search until after the election; however the number of sales agreed per branch increased meaning the political landscape hasn’t deterred all house hunters. Following the result of the general election, it will be interesting to see how the market reacts over the coming months as summer is peak house-moving season.”

Read the NAEA Propertymark’s monthly UK Housing Report – May 2017 in full clic here.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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