Estate agents in the UK reported higher sales of homes in June 2018, indicating traction in the housing market.
According to the latest report released by NAEA, the number of sales agreed per branch increased by 13 per cent annually in June 2018. First-time buyers continued to dominate the housing sales market, as the number of sales agreed per branch rose from eight in May to nine in June. This shows that more first-time buyers are stepping on to the property ladder.
In fact, the proportion of sales made to first-time buyers rose by five percentage points to 29 per cent in June – the highest amount recorded since February, NAEA said. It is evident that buyers are pushing through summer property transactions.
The number of properties available to buy increased in June, with 39 per branch, compared to 37 in May. This is a five per cent increase year-on-year, as agents marketed 37 properties in June 2017. As many as 308 house hunters had registered per branch in June 2018.
NAEA 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. Its monthly report reflects the health of the home sales market in the UK.
"We have seen a rise in the number of sales which is typical of this time of year as buyers and sellers seek to complete their property transactions ahead of the quieter holiday period," says Mark Hayward, Chief Executive, NAEA.