A Return Of Confidence In Housing Market

News at Household | 04/01/2020

When it comes to confidence in the property market, people are keen for signs. There has been a lot of anecdotal evidence regarding confidence levels in the housing market, but when a respected organisation such as NAEA Propertymark releases figures, people pay attention. Therefore, with data from this body saying there was an increase in prospective buyers and agreed sales in December 2019, it is natural for people to pay attention.

An increase in property sales is always welcome

In the December Housing Report issued by the organisation, they claim there was a year-on-year increase in the number of sales agreed. In December 2017 and again in December 2018, there were five sales agreed per member branch, but by December 2019, this had increased to six.

There was also a marginal rise in the volume of sales made to first-time buyers in December 2019. The figure was 28% in November, but 29% in December. For the annual figures, there was a more notable increase in the year-on-year figures. In December 2018, the number of sales made to first-time buyers stood at 24%.

More people are looking to buy a home

The organisation also experienced an increase in the number of house hunters registered per branch. This increased from 304 buyers in December 2018 to 313 in December 2019.

There was also an increase in the supply of homes to the market, rising from 39 in November to 41 in December. It is not as though this is a massive increase, but any improvement is worth noting and celebrating.

Mark Hayward is the Chief Executive of NAEA Propertymark and he said; “After a period of suppressed market activity due to Brexit and political uncertainty, the clear outcome of the General Election in December has injected some much-needed confidence into the market. Despite it typically being a quieter time of the year seasonally, our figures have shown positive trends with both demand and the number of sales being high in comparison to previous years, as both buyers and sellers no longer hold off on their plans. This is an encouraging close to the year and we hope to see more of this stability in 2020.”

While the Boris Bounce is being spoken about as though it is going to transform the property market, the reality is likely to be less impressive. However, it is pleasing to know there is a range of positive figures for people to consider in the UK housing market. Confidence is vital in every aspect of life, and this is particularly true when it comes to buying and selling homes. 2020 is tipped to be an exciting year in the market, and if you need assistance, we are here to help.

If you plan on selling your home, we can arrange a valuation for you. At Household, we aim to connect you with likely buyers, and we can help you find what buyers need. When it comes to selling your home in Toddington and Dunstable, we are your local agents, so contact us today.