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Throughout August, NAEA agents reported increases in both the level of demand for property and the number of completed transactions, reflecting a better than expected summer for the UK housing market.

 

House-hunter levels increased for a second consecutive month, with 304 people registering with an estate agent in August, compared with 299 in July. This is the highest post-recession figure recorded (previous highest figure; September 2007 (326)) however, it is important to remember that demand is concentrated in some parts of the country, and not others.

 

Despite a decrease in stock levels, sales remained aligned with figures recorded throughout the firsthalf of the year, moving up from an average of 7 to 8 per month. The stability in sales suggests those sellers who remain in the market continue to price their property sensibly. Anecdotal evidence from NAEA regional executives suggests three to four bedroom family homes have been the most appealing to house-hunters.

 

Mortgage finance continues to prevent many FTB levels gaining entry to the housing market. August saw a slight dip in its market share, moving from 21 per cent to 20 per cent. Assisting this part of the market is vital to gaining upward momentum that will help to grow the wider property market.