Homebuyer demand hits record high: NAEA

Conversely, the number of properties available per member branch stood at just 19 in December, a continued decline from 20 in November.

This is the lowest figure Propertymark has ever recorded and means each member branch has an average of 24 buyers for every property they have for sale.

In November, the majority of homes sold by Propertymark agents went for over the asking price (38%). However, in December 50% of homes sold for the original asking price. Whilst this shift hints to the usual lull December brings, year-on-year the figure is still incredibly high. In December 2020 just 28% of properties sold by members were agreed at asking price, with the majority (67%) agreeing sales at under asking price.

The average number of sales agreed per member branch fell slightly to 5 in December, from November’s figure of 7.

Year-on-year, this figure is less than the number of sales agreed last year which stood at 8 per member branch for December 2020. However, looking back over the past five years, the figure is in line with the average number of sales agreed per branch for the month of December

The number of sales made to first-time buyers fell to 14% in December from November’s figure of 29%.

Nathan Emerson, chief executive of Propertymark, commented: “Although December shows the usual festive lull compared with previous months, demand has still been incredibly high when compared against pre-pandemic data with more house hunters registered than in any other December. This could point to a busy January and a perfect time to sell your home if you’ve been thinking about it.”