Housing supply and demand
The housing report also highlighted a drop in housing supply, as the number of properties available to buy per member branch dropped from 25 down to 23. This means that there is an average of 19 buyers for every available property on the market.
The number of sales made to first-time buyers has remained a static 27 per cent in June, a continuation that has been recorded since March 2021.
Additionally, the average number of house hunters registered per estate agent branch has decreased to 426 during June, from 502 reported in May. Despite decreasing for the month, this is still high when compared to previous year-on-year figures.
The average number of sales agreed per estate agent branch, however, saw a slight dip from 12 to 11, but still remains the highest for the month of June over the last four years.