The NAEA Propertmark’s January’s Housing Report has revealed that, year-on-year, the number of prospective buyers has increased by more than a quarter since January 2019.
The number of house hunters registered per estate agent branch increased, rising 22% from 313 to 382, making it the highest figure seen since September 2019 when there were 387 prospective buyers registered.
Despite this, the number of properties available per member branch fell from 41 in December, to 38 in January – the lowest seen since June 2019 when it stood at 37. The supply of housing also increased in January, rising marginally from 36 in January 2019.
Additionally, the number of sales agreed per member branch rose by a third, from six in December to eight in January. Year-on-year, the number of sales agreed has also increased by a third, from seven sales agreed in both January 2018 and January 2019
Mark Hayward, NAEA Propertymark chief executive, said: “It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the general election result.
“As the Spring Budget fast approaches, we hope to see housing as a priority for the new chancellor.”
He added: “A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”