There were 325 house hunters registered per member branch in April – a 22% fall from March 2016 and the lowest number recorded since March 2014.
Housing demand dropped to a 2-year low after the stamp duty changes came into force on 1 April, the National Association of Estate Agents April Housing Market report has revealed.
There were 325 house hunters registered per member branch in April – a 22% fall from March 2016 and the lowest number recorded since March 2014.
Mark Hayward, managing director of the National Association of Estate Agents, said: “It’s no surprise that demand dropped significantly in April.
“Eight in 10 (80%) agents saw an increase in purchasers trying to beat the buy-to-let stamp duty changes before the April 1 deadline, so we expected to see a slow-down immediately following the deadline.
“Whilst the number of house-hunters registered per branch dropped in April, the supply of available housing to buy also fell quite sharply, so supply and demand are still moving in the opposite direction, rather than balancing out.
“Additionally, the upcoming EU Referendum means we’ve entered a period of uncertainty, as buyers put off their hunt in anticipation of the result, and what might happen to prices as a result.”
