House sales July

Number of houses sold reaches 13-year high after stamp duty holiday



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An average of 13 sales were agreed per estate agent branch in July following the chancellor's stamp duty holiday announcement, according to NAEA Propertymark's July Housing Report.

This is the highest figure recorded since June 2007.

Year-on-year, the number of sales per branch has increased by 44%, rising from nine recorded in July 2019.
 
However, in July, 8% of properties sold for more than the original asking price, a fall from 10% in June.

Some 60% of properties sold for less than the original asking price last month.    

Housing demand is up by 35% when compared with July 2019, with the supply of housing increasing marginally to 43 available properties per member branch, compared with 41 in July 2019.

The number of sales made to first-time buyers stood at 25% in July, a fall from 29% in June.

“It’s positive to see the market continuing to boom, with clear interest from both buyers and sellers,” commented Mark Hayward, Chief Executive, NAEA Propertymark.

“Usually, we would expect to see a lull in activity during the summer months; however, demand remains unabated with no signs that this will not continue.

“With the recent stamp duty holiday announcement, we expect the housing market to remain busy throughout the rest of the summer.”

 

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