Mon 12 Feb 2018
First time buyers took advantage of a quieter market, with sales to the group increasing to 32% - the highest seen since September 2016, according to the NAEA Propertymark's Housing Report December 2017.
Key findings of the Housing Report December 2017:The number of house hunters registered per estate agent branch fell by 20 per cent in December.
The number of sales agreed per branch also fell
First-time buyers took advantage of a quieter market, with sales to the group increasing to 32 per cent – the highest seen since September 2016
“We see this year in, year out. Buyers take a back seat in December to enjoy the festivities, while sellers keep their homes on the market in the hope that someone will take interest and make an offer.
What we don’t usually see is FTBs capitalising on this slump and using it to their advantage – 44 per cent of our members think that the Chancellor’s stamp duty cut for FTBs will encourage more to make offers, and it looks like that’s what we’re starting to see. Hopefully this enthusiasm won’t falter when the second and third time buyers come back onto the market in the new year and competition hots up again.” Mark Hayward FNAEA, Chief Executive, NAEA Propertymark.
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A confident start to the housing market in 2018Following the last quarter of uncertainity due to politcial and economic unrest in 2017, we have seen at the start of 2018 more confidence in The Midlands property market, with an increase of people selling a house for the first time and buying their second home.
Rob Clark, Branch Manager and Valuer at John German Estate Agents in Loughborough and East Leake comments "I have seen an extremely busy start to the year with a high number of people ready to put their properties up for sale.
Not only have we seen demand from first time buyers, those looking to sell their home for the first time are now able to move because there are more properties coming onto the market between their next price bracket of £250,000 to £350,000. If these buyers can find their second home, this frees up supply of lower priced houses for first time buyers too."
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About NAEA PropertymarkNAEA Propertymark (formally National Association of Estate Agents) is the UK’s leading professional body for estate agency personnel; representing members who practice from over 11,500 offices in all aspects of property services. Dedicated to injecting professionalism within all aspects of property, estate agency and land.
The aim is to reassure the general public that by appointing a NAEA Propertymark Protected agent to represent them, they will be safeguarded and receive the highest level of integrity and service for all property matters.
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