Summary of our findings

  • Over the course of 2018, demand was lower than last year with an average of 324 house buyers registered per branch, compared to 366 on average throughout 2017. Looking back over the last 10 years, it’s up by 31 per cent, from 222 per branch in 2008.

  • The number of properties available to buy hasn’t changed drastically year-on-year, with 38 available per branch throughout 2017 and 39 in 2018, hitting a two-year high with 46 in September. However, supply has dropped significantly over the last ten years, from 89 on average per branch in 2008.

  • The number of sales agreed per branch throughout the year fell in 2018, from nine on average per month in 2017, to eight this year. Historically, this figure has remained fairly consistent, only moving between 12 and seven from 2008 to now.

  • Despite the fact first-time buyers benefitted from stamp duty relief in 2018, the proportion of total sales made to the group fell by one percentage point year-on-year – from 26 per cent on average in 2017 to 25 per cent in 2018.

Supply of available property

Property supply
Highest

46
September

Average

39

 

Lowest

33
April

Registered house hunters

House hunters
Highest

338
September

Average

318

Lowest

294
October

Sales agreed

Sales agreed
Highest

9
June, August and September 

Average

8

 

Lowest

5
December

Percentage of sales to first-time buyers

First time buyers
Highest

30%
July

Average

25%

 

Lowest

20%
August

2018 has been a busy year for the property market, with the Government launching several consultations to address important issues – most notably to regulate the sector, improve the buying and selling process, and address the issue of leaseholds. The housing market has notably slowed, particularly over the last couple of months, which could be a by-product of Brexit uncertainty, as buyers hold off on purchases until the outcome is clear.

Mark Hayward Chief Executive | NAEA Propertymark

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We've combined all of the monthly reports into one document so that you can quickly get a detailed look at our findings from 2018.

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