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Housing Report, May 2020

Housing market picking up following lockdown (reported by propertymark)

Key Findings

  • As the housing market reopened; estate agents recorded an average of five sales per branch
  • Demand for housing was seven percent higher than recorded in February

This data was collected after the English housing market reopened on 13th May for the period covering 13th to 31st May following the lockdown. 

Sales agreed

  • The average number of sales agreed per estate agent branch stood at five in May, a decrease of almost half (44 percent) compared to February when there were nine sales recorded per branch.

Demand for housing

  • In May, the number of house hunters registered per estate agent branch rose by seven percent, increasing from 322 in February to 344 in May.
  • Year-on-year, housing demand is up by 12 percent, rising from 307 in May 2019 as prospective buyers resumed their home-buying plans.

Supply of available properties

  • The number of properties available per member branch stood at 35 in May.
  • Year-on-year, the supply of housing fell by 15 percent from 41 per branch in May 2019.

Sales to FTBs

 

  • The number of sales made to FTBs stood at 32 percent in May, a rise from 22 percent recorded in February.

What properties sold for

  • In May, more than two in three (70 percent) properties sold for less than the original asking price.
  • 61 percent of estate agents have seen an increase in the number of sales falling through since the Government imposed a lockdown.

https://www.naea.co.uk/media/1048865/housing-report-may-2020.pdf

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