Mike Smuts April 29, 2017 Uncategorized no responses

The latest figures from NAEA Propertymark have revealed that the UK housing supply fell to its lowest March level since records began in 2002.

Key Findings

  • The number of properties available to buy on estate agents’ books decreased to 39 in March, from 44 in February. Looking at this year-on-year, supply is down 28% as agents had 54 properties available to market last March.
  • The number of prospective house buyers also decreased in March. Estate agents had an average of 397 prospective buyers on their books last month, compared to 425 in February.
  • The proportion of sales which were agreed for first-time buyers rose to 25%, up from 22% in February.

Mark Hayward, Chief Executive, NAEA Propertymark, said: “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.