Demand from house hunters and supply of properties
The average number of new potential buyers registering at each member branch was up from 67 in February to 84 in March, returning close to the January high of 100.
The average number of properties listed per member agent branch remained fairly steady at 22, compared to 23 in February. New instructions to the market continue to be high at an average of 10 per member branch, showing the increase in supply since the new year has held.
Our March figures show a range of new activity as the spring market makes itself known. The number of new properties coming on to the market has increased slightly and new stock breeds new buyers and new sales. The number of sales being agreed in March is slightly above our recorded long-term average and the uplift in properties coming to market is a trend we would hope to see continue into April and May.
Sales to first time buyers
The proportion of monthly sales to first time buyers stayed strong at 30 per cent of overall sales in March. This is slightly down on February’s figure of 37 per cent but still above average for the post-2020 lockdown period (25 per cent).
