Market still booming according to latest agents’ snapshot

The housing market is still booming according to data released by the National Association of Estate Agents Propertymark - although the figures relate to June.

Last month one in 10 properties sold for more than the original asking price, which was the highest proportion recorded since February 2016 when 11 per cent sold for more.

However, sone 57 per cent of all sales during the month were for less than their original asking price.

The average number of sales agreed per estate agent branch stood at 10, double the amount recorded in May.

Year-on-year, the number of sales per branch have increased, rising from nine recorded in June 2019.

In terms of demand, the number of house hunters registered per estate agent branch rose by 10 per cent in June, increasing from 344 in May to 379.

Year-on-year, housing demand was up by nearly a quarter.

Looking at supply, the number of properties available per member branch stood at 37 in June, increasing from 35 in May.

Meanwhile the proportion of sales to first time buyers stood at 29 per cent in June, a fall from 32 per cent in May.

“It’s positive to see the market continuing to boom after the government re-opened the property market in May. Usually we’d expect to see a lull in activity during the summer months; however, with estate agents following new social distancing protocols and both demand and sales soaring, it seems we’re in for a busy summer” says NAEA Propertymark’s outgoing chief executive, Mark Hayward.