High demand continued in April

HOUSING REPORT: Despite the cost-of-living crisis, inflation, and rising interest rates, the public remain convinced that now is a good time to buy. Properties currently being brought onto the market are 115 per cent more likely to sell than they were in the month of April from 2012–2021.

Number of homes for sale remains low

The average number of properties for sale per member branch in April was 20. With very little movement in the number of properties available for purchase over the last year, numbers remain low compared to the long-run average for April of 42 (based on 2012-2021 figures, excluding 2020).

Demand from house hunters

39 per cent of agents said the majority of properties sold for more than the original asking price in April

Demand remained high in April with 39 per cent of respondents telling us that most sales in April were agreed above the original asking price. The average number of new potential buyers registering at each member branch remained high at 100. 

With less properties available to buy, it wouldn’t be illogical to assume that estate agents would be witnessing less sales being agreed.

However, the number of sales agreed remains steady when compared with long term trends and agents report that sellers were 115 per cent more likely to sell their home in April. This is due to the desire to buy a home remaining strong, and although the heights of prices being achieved may well start to cool, this trend is unlikely to change by a great deal.

Nathan Emerson CEO | Propertymark
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