In February the National Association of Estate Agents reported 463 house hunters registered per branch, the highest number since August 2004.
Housing demand reached a 12-year high in February as investors looked to beat the 3% stamp duty surcharge deadline.
In February the National Association of Estate Agents reported 463 house hunters registered per branch, the highest number since August 2004.
The majority of estate agents (85%) saw an increase in buy-to-let investors flooding the market ahead of the surcharge deadline on 1 April.
Mark Hayward, managing director, National Association of Estate Agents, said: “It is evident from February’s report findings that we’ve seen a real sense of urgency from landlords trying to complete on sales ahead of the stamp duty reforms– which now come into force next week. However, the mounting pressure and increased demand for housing has meant that first-time buyers have had to compete with landlords for property and as a result they have lost out.
“We would like to say that come April things will look better for first-time buyers. Schemes like the Help to Buy ISA, Help-to-Buy scheme and the new Lifetime ISA all sound great on paper, and there’s no doubt that some young people will definitely benefit from them.
“The crux of the problem though is that there is still a huge issue with supply and until we build more homes, and crucially the right sort of homes, we cannot fool ourselves into thinking we are doing enough to help people buy their own home.”
