The National Association of Estate Agents’ (NAEA) September Housing Market has revealed that the average number of house hunters registered per member branch increased from 287 in August, to 333.
This represents an increase of 16% and takes the number of prospective house buyers recorded up to the levels seen back in June, when estate agents recorded 330 on average per branch.
In September, 23% of sales were made to first-time buyers, a fall of five percentage points from August and the lowest level seen since November last year when 21% of sales were made to the group.
Just 12% of agents have seen sales to first-time buyers stall since Brexit, whereas 41% have witnessed no change in first-time buyer activity as a result of the Brexit vote.
The number of houses available to buy decreased marginally in September, to 40 per branch. This is a decline from 41 properties per branch recorded in August, which was the highest level seen since March this year.
The number of sales agreed rose by 12.5% in September to an average of nine per branch.
Mark Hayward, NAEA managing director, said: “This month’s report proves that buyer confidence is growing, which is obviously reassuring, given that we expected uncertainty following Brexit. Although supply has dropped marginally, this does not concern us as it’s still higher than the levels we saw between April and July.
“However, it is worrying that the number of sales being made to first-time buyers has fallen to the lowest number in 10 months. The fact the government’s Help to Buy housing scheme is due to close this year might pose more of a challenge for those who were relying on this to help get their foot on the property ladder.
“We now look ahead to the Autumn Statement and look forward to seeing what plans the government puts in place to assist first-time buyers towards their goal of homeownership.”
