Residential property sales in the UK increased in June, according to estate agents, but they are still lower than they were in the same month in 2017, according to the latest industry report.
The monthly research from the National Association of Estate Agents (NAEA) shows that the number of sales agreed per member branch increased by 13% in June, from eight in May to nine.
However, this is 18% lower than June last year when agents agreed a total of 11 sales per branch but the data also shows that sales to first time buyers also rose, up 5% to 29% in June, the highest amount recorded since February.
Supply also increased as the number of properties available per branch rose in June from 37 to 39, up 5% year on year but looking at a five year comparison, the number of properties available is down 15% from 46.
The number of house hunters registered per estate agent branch decreased by 12% from 351 in May to 308 in June, the lowest number of buyers recorded since March this year and 20% lower than June 2017 when 384 prospective buyers were registered per branch.
‘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,’ said Mark Hayward, NAEA chief executive.
‘If a seller is hoping to avoid the summer slowdown and is looking to market their home once this has passed, they can spend some time over the coming months ensuring their home is ready for sale, whether it be decluttering, or refreshing the décor,’ he added.
