Surge in property enquiries

Our latest market report for July showed a sharp increase in the number of house-hunters registering at its branches across the UK. While there is some regional fluctuation, on average agents reported 299 people on their books for the month, up from 263 in June and the highest figure in over two years (May 2009; 299).

Supply levels across the country decreased slightly with NAEA agents reporting 70 properties available per branch, down from 74 in June. This is still higher than year-on-year figures where in July 2010, only 68 were recorded.

As is usual for the time of year, sales dropped slightly from an average of 9 per branch to 7. However, the proportion of sales made to first time buyers increased from 20 per cent in June to 21 in July.

NAEA President Wendy Evans-Scott said: “It is great to see that interest in property has reached a two year high, especially at a time when, traditionally, estate agents experience a lull in activity as people take a holiday abroad instead of house hunting.

“It seems that people are beginning to reconsider their options when it comes to buying a property. With many sellers now being more realistic about pricing, we hope the market will rejuvenate in the coming months.”