The number of prospective house buyers has increased by more than a quarter since January 2019, while supply of available housing has fallen, new data published by NAEA Propertymark has revealed.
The professional body for estate agents announced the number of house hunters registered per estate agent branch increased during January – rising by 22% from 313 to 382 – which was the highest figure seen since September 2019 when there were 387 prospective buyers registered.
Year-on-year, NAEA Propertymark reported that housing demand increased by 29%, up from 297 house hunters per branch in January 2019.
The data also revealed the number of properties available per member branch had fallen from 41 in December, to 38 in January, which was the lowest tally since June 2019 when it stood at 37. Year-on-year, the supply of housing showed a marginal rise from 36 in January 2019.
Furthermore, the number of sales agreed per member branch rose by a third, from six in December to eight in January, while the number of sales made to first-time buyers remained the same during the month, at 29%. Year-on-year, NAEA Propertymark found this was an increase of three percentage points from January 2019 when the number of sales made to the group stood at 26%.
NAEA Propertymark chief executive, Mark Hayward, commented: “It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the General Election result.
“As the Spring Budget fast approaches, we hope to see housing as a priority for the new Chancellor. A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”
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