According to the figures, this is the lowest number of buyers recorded for the month of November since 2012, when agents registered 263.
Supply of properties
In November, the supply of available housing fell by 13% for the second consecutive month; dropping from an average of 40 in October, to 35 per branch. This is the lowest recorded since earlier this year, when 33 properties were available to buy per branch in April.
Sales to FTBs and sales agreed
The number of properties sold to FTBs remained at 23 per cent in November for the second month running, increasing from 20% in August and 22 per cent in September. Year on year, the number of sales made to the group are down from 27%. The number of sales agreed per branch fell for the second month running – from nine in September, to eight in October and to seven last month.
Mark Hayward, Chief Executive, NAEA Propertymark said: “Last month it was clear that uncertainty surrounding Brexit was having an impact on the sector, and this month is no different. We usually see a seasonal slow-down, but it’s unlikely that the time of year is the sole cause of today’s market conditions. As we near the end of the year, we’d usually expect potential buyers and sellers to put their plans on hold until early next year, but it’s likely that this year we’ll just see people holding off until there’s some clarity around what the Brexit deal might look like and what it will mean for the economy.”
