Number of sales agreed reaching a ten year high in February says NAEA Propertymark
The NAEA Propertymark Monthly UK Housing Report – February 2017 headlines ‘Number of House Sales Agreed Reaches Ten Year High”.
The report highlighted: Sales to first-time-buyers dipped in February and supply of available housing increased while demand remained the same.
The number of sales agreed rose to a 10 year high in February, to 11 per branch, 74% of sales in February were below the original asking price.
Mark Hayward, Chief Executive, NAEA Propertymark said: “The number of sales agreed reaching a 10 year high indicates the housing market is moving in the right direction. However, FTBs need to be a priority – the number of sales made to the group dipped in February when it should be growing. As house prices continue to rise, the market’s most vulnerable buyers are being priced out and the only way to address this is to increase housing stock. The Government have pledged yet again to build more homes, but our members aren’t feeling optimistic about the plans. If promises are kept and we see construction sites set up across the UK, we’ll be in a better position in a few years than the stark reality we will be facing if this doesn’t happen.”
Read the NAEA Propertymark Monthly UK Housing Report – February 2017 in full click here.
You May Also Enjoy
Beach hut values fall for second consecutive year
Burnham’s property and land tax: what would it mean for property owners?
Homebuyers can save up to 47% by looking next door to the UK’s priciest postcodes
Your First-Time Buyer Mortgage Journey
London property values set to fall
