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Buyer demand hits four month high but supply remains low

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Thu 27 Feb 2020

Buyer demand hits four month high but supply remains low

NAEA Propertymark has provided more evidence that supply continues to lag demand in the market.

The latest NAEA Propertymark housing report – based on a survey of 243 agents – shows that the number of potential buyers has hit a four-month high of 382 per branch in January.

This is up from 313 in December and 297 the same time last year.

The number of properties available per member branch fell from 41 in December to 38 in January. This is the lowest seen since June 2019 when it stood at 37.

Supply was still marginally up year-on-year from 36.

It comes after Zoopla highlighted that stock on the portal is up 2.6% annually, but is lagging behind demand which is up 26%.

It was better news in terms of sales agreed, with transactions rising from six to eight per NAEA member branch between December and January and up from seven in the same month of 2019.

Mark Hayward, chief executive of NAEA Propertymark, 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 Budget fast approaches, we hope to see housing as a priority for the new Chancellor.

“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.”