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Property supply at highest level in four years: Propertymark

NAEA Propertymark’s end of year housing report shows that the number of properties available on the market is the highest it has been since December 2014.

In the final month of 2018, supply increased by 20 per cent, from 35 in November to 42 in December, according to the firm.

Prospective buyers registered per estate agent branch increased by 8 per cent, from 282 in November, to 304 in December.

Furthermore, sales to first-time buyers increased from 23 per cent to 24 per cent month-on-month, says the report.

However, agreed sales per member branch has continued its downward trend, falling from nine in September, to eight in October, to seven in November and five in December.

NAEA Propertymark chief executive Mark Hayward says: “This month’s findings prove that despite the current political climate, people still want to move.

There is movement in the market with demand from house hunters up 13 per cent year-on-year, and the supply of available properties also rising.

Although the number of sales agreed hit a 12-month low, this is something we always see in December, with Christmas festivities typically taking priority over any plans to buy or sell.

“While many are adopting a ‘wait and see’ strategy until there’s further clarity over what Brexit might mean for the market, there is choice for those who want to buy now, and there are people on the market looking for new homes.”

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