Sales to First-Time Buyers fall in January compared to previous month according to NAEA Propertmark.

February 28, 2018

Latest Housing Market report from NAEA Propertymark headlines ‘House-Hunters Flood The Market’

The report reveals that the number of house-hunters looking for new homes rose by 37 per cent in January.

January saw an influx of sellers marketing their properties, the supply of available properties increased to 36 per branch on average, from 33 in December according to NAEA Propertymark.

Mark Hayward, Chief Executive said:

“As we usually see in January, buyers and sellers have re-entered the market after the festive slow-down and triggered an uplift in the number of sales agreed. While this is good news for the market generally, the increased competition seems to have affected FTBs, who generally have less bargaining power when it comes to bidding for properties.

“Our members have noticed FTBs holding off on making purchases typically outside of London, and saving for longer to maximise the full stamp duty relief. They’re skipping the ‘first time home’ and moving straight onto their second homes, to avoid growing out of their property in four or five years and facing the cost of stamp duty. This is a smart move and an example of how FTBs are making legislation work to their advantage.“

Read the latest Housing Market report from NAEA Propertymark in full click 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.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Record high rents as landlords brace for budget impact

Average advertised rents outside London hit a 19th consecutive quarterly record of £1,344 per calendar month (pcm), up 5.2% from last year, although this is the slowest rate of growth since 2021 London rents also hit a new record at £2,694 pcm, 2.5% higher than last year (£2,627 pcm) The balance between supply and demand continues…
Read More →
Estate Agent Talk

How to Fetch Faster Results in Real Estate Business Using 3D Animation?

Architects and realtors are well aware that computer-generated images (CG movies) are an effective tool for their presentations and marketing materials. The only issue is that having them manufactured can be time-consuming. Depending on its complexity, a 3D animation project can take anywhere from a few weeks to over a month to complete. However, in…
Read More →
Estate Agent Talk

Successful Marketing Ideas: Leaflet Distribution

In an age where digital channels reign supreme, the tactile feel of a leaflet can bring a refreshing twist to your marketing strategy. Leaflet distribution is not just a tried-and-true method, but when executed properly, it has the power to penetrate the market with a tangible, physical message. As businesses seek to create meaningful connections…
Read More →
Estate Agent Talk

Cash sales: Biggest shifts in outright property purchases in the UK

A new study uncovers the dramatic rise and fall of cash property sales in the UK over the last decade. Inverclyde saw a staggering 39.4% surge in cash sales since 2013, with over half of all properties bought outright in 2023. In stark contrast, Harlow witnessed a shocking 44.9% plunge in cash buyers during the…
Read More →
Estate Agent Talk

The Importance of Residential Surveys and Home Buying Reports

When it comes to buying a property, it’s easy to get caught up in the excitement of finding your dream home. However, it’s crucial not to overlook the importance of conducting a residential survey and obtaining a home buying report. These essential tools provide valuable insights into the condition and value of a property, allowing…
Read More →
Breaking News

Landmark Information Group Q3 2024 Property Trends Report (England and Wales)

Despite surge in housing supply, economic and political climate continues to put downward pressure on completion rates Landmark’s newly released Q3 Residential Property Trends report demonstrates a detailed analysis of the housing market, providing data from July to September 2024. The report highlights that high supply is offset by slow completions, with economic and political…
Read More →