You are here: Home - Mortgages - First Time Buyer - News -

Number of homes available to buy up 15% in September

0
Written by:
23/10/2018
The supply of available properties, demand from house hunters and first-time buyer sales all increased in September, according to the estate agent trade body.
Figures from NAEA Propertymark show the number of properties available to buy increased by 15% in September, rising from 40 per branch on average in August to 46.

This is the highest number recorded since March 2016 when an average of 54 properties were available and the highest for the month of September since 2014, when an average of 51 properties were available per estate agent branch.

The number of house hunters registered per branch also rose by 6% last month, from 320 in August, to 338 in September.

Despite this short-term trend, demand is down by 14% year-on-year, as there were 394 house hunters registered per branch in September 2017.

Sales to FTBs and sales agreed

Following a three-year low for first-time buyer (FTBs) activity in August, sales to the group rose marginally in September, increasing by 2% to 22% of the market.

The number of sales agreed per branch remained the same in September, with an average of nine recorded per branch.

Mark Hayward, chief executive of NAEA Propertymark, said that buyers and sellers tended to flood the market in September with the hope of completing their transactions before the festive period kicks off.

“Therefore, the summer is usually a good time for FTBs to enter negotiations and try to secure a property. However, this summer’s heatwave led to an unusually busy August as house buyers and sellers opted to stay at home rather than heading abroad for their summer holidays. This boosted competition and meant sales to FTBs were down,” he said.

“We hope that during next week’s Autumn Budget the Chancellor announces further measures to improve market conditions for FTBs. Ultimately, the only thing which will make the housing ladder more accessible is reduced competition, which comes down to supply.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week