According to the latest data and analysis from NAEA Propertymark, house hunters have been out in force during the first month of the year, with figures showing an increase in activity of 22%.
The numbers show that year-on-year, the volume of prospective buyers has increased by more than a quarter since January 2019, while the supply of available housing fell. The number of sales agreed rose by a third and the number of sales to FTBs remained the same
The number of house hunters registered per estate agent branch rose from 313 to 382. This is the highest figure seen since September 2019 when there were 387 prospective buyers registered.
Supply of available properties
The number of properties available per member branch fell from 41 in December, to 38 in January. This is the lowest seen since June 2019 when it stood at 37. Year-on-year, the supply of housing is up, rising marginally from 36 in January 2019.
The number of sales agreed per member branch rose by a third, from six in December to eight in January. Year-on-year, the number of sales agreed has also increased by a third, from seven sales agreed in both January 2018 and January 2019.
Sales to FTBs
In January, the number of sales made to FTBs remained the same at 29%. Year-on-year, this is an increase of three percentage points from January 2019 when the number of sales made to the group stood at 26%.
Mark Hayward, Chief Executive, NAEA Propertymark comments: “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.”