The number of house hunters registered per estate agent branch fell from 294 in October to 282 in November, the lowest number of buyers recorded for the month of November since 2012, NAEA Propertymark found.
The number of house hunters registered per estate agent branch fell from 294 in October to 282 in November, the lowest number of buyers recorded for the month of November since 2012, NAEA Propertymark found.
The number of properties sold to first-time buyers remained at 23% in November for the second month running, increasing from 20% in August and 22% in September. Year-on-year, the number of sales made to the group are down from 27%.
Mark Hayward, chief executive, NAEA Propertymark said:“Last month it was clear that uncertainty surrounding Brexit was having an impact on the sector, and this month is no different.
“We usually see a seasonal slow-down, but it’s unlikely that the time of year is the sole cause of today’s market conditions.
“As we near the end of the year, we’d usually expect potential buyers and sellers to put their plans on hold until early next year, but it’s likely that this year we’ll just see people holding off until there’s some clarity around what the Brexit deal might look like and what it will mean for the economy.”
In November, the supply of available housing fell by 13% for the second consecutive month; dropping from an average of 40 in October to 35 per branch
This is the lowest recorded since earlier this year, when 33 properties were available to buy per branch in April.
The number of sales agreed per branch fell for the second month running,from nine in September to eight in October and seven last month.
