Summary of our findings:

  • In 2017, demand spiked in January and February at 425 house-buyers registered per branch. Demand was higher this year than in 2016, with an average of 380 prospective buyers registered per branch, compared to 365 on average over the course of last year
  • Supply of housing peaked in February with 44 properties available to buy per branch. Year on year, supply has not shifted, averaging at 39 properties available per branch in 2016 and 2017
  • February and June saw the highest number of sales agreed, with an average of 11 per branch. In 2016, the number of sales agreed peaked in March, with 10 per branch. On average, the number of sales agreed was up in 2017 – with an average of nine per branch every month, compared to eight in 2016
  • The proportion of total sales made to first-time buyers (FTBs) on average over the year hit the lowest seen since 2013
  • In 2017, properties were sold for less than asking price on average 77 per cent of the time – only four per cent were sold for more than the original asking price.

Registered house hunters

Highest

406
September

Average

365

Lowest

313
March

Supply of available property

Property supply
Highest

53
October

Average

47

 

Lowest

42
March

Sales agreed

Sales agreed
Highest

10
March 

Average

9

 

Lowest

5
December

Percentage of sales to first-time buyers

First time buyers
Highest

30%
September

Average

25.5%

 

Lowest

20%
June and July

2017 has been a busy year for the property market, and the Budget announcement to abolish stamp duty for FTBs has given them some optimism. This year saw an average of 25 per cent of sales to FTBs, the lowest in four years. Looking to next year it will be interesting to see what impact the stamp duty change had on the market, and if it really does help FTBs get on the ladder. We still only have a limited supply of housing available and policymakers need to think about how to help others in the chain, such as second steppers and those that would downsize in order to free up more larger homes suitable for families.

Mark Hayward Chief Executive | NAEA Propertymark

Download the reports

We've combined all of the monthly reports into one document so that you can quickly get a detailed look at our findings from 2017.

Download