The National Association of Estate Agents’ (NAEA) Propertymark July Housing Market Report shows that one in ten properties sold for more than the original asking price, a trend that has continued for a second month.
The high level of activity is probably due to the stamp duty holiday that is currently in place into March 2021 and people looking to move quickly after lockdown.
Propertymark said that the number of properties available per branch stood at 43 in July, showing a marginal increase year on year.
A 13% increase in house hunters registered per agent branch saw numbers rise to 428. Demand is up by more than a third (35%) year on year.
Mark Hayward, Chief Executive NAEA Propertymark commented: “It’s positive to see the market continuing to boom with clear interest from both buyers and sellers. Usually we would expect to see a lull in activity during the summer months; however, demand remains unabated with no signs that this will not continue. With the recent stamp duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer.”
Photo: Mark Hayward