There are as many as 11 home-buyers showing interest for every one property sold by the estate agents in the UK, premier global property news service Property Wire has reported, quoting a research study. This means that the demand for housing continues to surge in the UK despite the rising costs of home acquisition.
Quoting NAEA Propertymark, Property Wire observed an increase in the number of prospective buyers of homes though the supply is low. Numbers revealed by NAEA Propertymark showed that 425 property buyers had registered per member branch in January, 2017. This is a 10 per cent increase over December 2016 (average was 386).
On the contrary, the average number of properties available for buying from the estate agents was 38 in January as against 41 in December. This shows that while the number of prospective home-buyers has increased, the number of homes entering the market has decreased. This imbalance will continue to contribute to inflation of house prices in the UK.
There is tremendous pressure on the stakeholders of the housing sector in the UK to make housing affordable to all. As the housing crisis continues to spiral out of control, thousands of prospective home-buyers have been kept out of the housing network. The latest research from NAEA Propertymark is an eye-opener for the stakeholders concerned.
Latest report shows that the average number of prospective buyers registered per member branch in January was 425, a 10% rise from December 2016 when estate agents registered 386 on average