The UK housing market is still moving upwards, despite Brexit woes, according to the latest Housing Report from NAEA Propertymark (the National Association of Estate Agents).
The study, which covers the month of December 2018, uses
data from NAEA Propertymark member estate agents.
As vendors continued to market their homes in December, the
supply of available properties increased by a fifth on a monthly basis, from an
average of 35 per branch in November to 42.
This is the highest level seen for the month of December
In December, the number of home hunters registered per
branch rose by 8%, from an average of 282 in November to 304.
Year-on-year, demand increased by 13%, from 268 in December
First time buyer
The amount of homes sold to first time buyers in December
rose marginally, from 23% of all transactions in the previous month to 24%.
Annually, however, the number of sales made to this type of
buyer dropped from 32%.
The amount of property sales agreed per branch fell from an
average of nine in September, eight in October, seven in November, to just five
This is in line with seasonal trends, however, as it is the
lowest figure recorded since December 2017, when it was also five.
Mark Hayward, the Chief Executive of NAEA Propertymark, says: “This month’s findings prove that, despite the
current political climate, people still want to move. There is movement in the
market, with demand from house hunters up 13% year-on-year, and the supply of
available properties also rising. Although the number of sales agreed hit a
12-month low, this is something we always see in December, with Christmas
festivities typically taking priority over any plans to buy or sell.
“While many are adopting a wait-and-see strategy,
until there’s further clarity over what Brexit might mean for the market, there
is choice for those who want to buy now, and there are people on the market
looking for new homes.”