Call me back

Number Of House Sales Agreed Reaches Ten Year High

Thu 27 Apr 2017

Monthly UK Housing Report - March 2017 - From NAEA

Supply of Houses Available to Buy at Lowest Level for March Since Records Began

  • The supply of available homes is at the lowest level for March since records began in September 2002
  • Number of prospective house buyers also decreased in March
  • A quarter of sales were made to first-time buyers

Supply of properties

  • The number of properties available to buy on estate agents’ books decreased to 39 in March, from 44 in February
  • This figure is the lowest amount recorded for March, since records began 16 years ago in September 2002 [see figure 1]
  • Year on year, supply is down 28 per cent as agents had 54 properties available to market last March.

Property Supply March 2014

Figure 1: Number of properties available per branch in March since 2005

Demand for properties

  • The number of house buyers registered per member branch fell in March as well. Estate agents had an average of 397 prospective buyers on their books last month, compared to 425 in February
  • In March last year, there were 417 prospective buyers registered per branch, meaning demand has fallen by five per cent year-on-year.

Sales to first time buyers (FTBs)

  • The proportion of sales which were agreed for first-time buyers (FTBs) rose to 25 per cent, up from 22 per cent in February
  • The total number of sales to FTBs dropped significantly to 22 per cent in February, from 30 per cent in January, so this rise is a step in the right direction.

Sales agreed and what properties sold for

  • The average number of sales agreed decreased in March, to 10 per branch. In February, 11 sales were agreed per branch, the highest number recorded since September 2007
  • In March, one in every 20 (five per cent) properties sold for more than the original asking price. This figure has continued to rise since the low of 12 per cent seen in November 2016.

Stamp duty reforms – one year on

  • A year on since the higher rates of stamp duty for additional properties was introduced, two thirds (64 per cent) of agents have seen demand for properties from buy-to-let investors decrease
  • Just under two fifths (37 per cent) have seen house prices increase as a direct result of the stamp duty reforms.

Mark Hayward, Chief Executive, NAEA Propertymark said: “There are currently 10 house-hunters chasing each available property, and with supply at the lowest level for March since records began, building more homes to satisfy demand needs to be a priority. In line with this, while sales to FTBs rose slightly in March, they’re still much lower than the levels seen in the last three months of 2016 which is cause for concern. The upcoming General Election is a good opportunity for each Party to outline their plans for tackling the housing crisis – we hope to see it prioritised so we can make the market a better place once and for all.”

" .....We'd been burnt in the past with poor service in this industry and were considering listing our home with an online estate agent. We discovered that the reality of selling online was impersonal and lacking in proactivity so we decided to sell with Maxwell Hodgson - it was a great decision, would recommend them to everyone selling in the Wetherby area. "
Miss H - Collingham

News Archive

September 2018

Maxwell Hodgson Are Wetherby's Number 1 Selling Agent

Market Snapshot September

August 2018

Why Use High Street agents?

Market snapshot August

July 2018

Why Use High Street agents?

12 Things Potential Buyers Don’t Want To See in Your Bathroom….

Market snapshot July

June 2018

Market Snapshot for June

We are recruiting

May 2018

Achieve the best price for your home

Market Snapshot For May

Easy Ways to Make (and Keep) Your Home Ready for Potential Buyers

April 2018

April’s Market snapshot

7 Things potential buyers don't want to see in your kitchen

Thinking Of Using An Online Agent? .....Read What Our Clients Say

March 2018

Regional Market Snapshots March

Speedy Fixes to Sell Your Home Faster

February 2018

Regional Market Snapshots February

Local relocation agent specialist in top 10% of estate agency network

January 2018

Regional Market Snapshots January

Top tips to ease the house buying process

December 2017

Winner of our Christmas Competition Announced

Christmas Decorating Trends From House Beautiful

November 2017

Good news for first time buyers

Christmas Competition

October 2017

Where Is The Happiest Place To Live

Planning your moving day

September 2017

10 Things You Should Do Now to Declutter Your Garden for Winter

We are part of an award-winning network

Don't Just Move, Relocate

August 2017

Our 10 Year Anniversary!

Proud Sponsors of Wetherby Rugby Club

July 2017

Latest Comment on The Property Market From Rightmove

April 2017

Number Of House Sales Agreed Reaches Ten Year High

March 2017

The Improvements That Add Value to Your Home