03 May 2017
NAEA Propertymark May 2017
Housing Supply at Lowest Level for March since Records Began
The number of homes available per branch was at the lowest level for March since records began in September 2002.
Properties which were available to buy on agents books decreased to 39 in March, down from 44 the previous month. Year on year, supply is down 28 per cent as agents had 54 properties available to market in March 2016.
Whilst the average number of sales agreed fell in March, to 10 per branch, the proportion of sales made to first time buyers rose to 25 per cent, up from 22 per cent in February.
Read March's Housing Market Report:
“There are currently 10 house-hunters chasing each available property, and with supply at the lowest level for March since records began, building more homes to satisfy demand needs to be a priority. In line with this, while sales to FTBs rose slightly in March, they’re still much lower than the levels seen in the last three months of 2016 which is cause for concern. The upcoming General Election is a good opportunity for each party to outline their plans for tackling the housing crisis – we hope to see it prioritised so we can make the market a better place once and for all.”
Mark Hayward FNAEA
Chief Executive NAEA Propertymark