Valuations and sales hold steady in June: Propertymark

The housing market remained unchanged in June, with the number of home valuations steady compared to May, according to the latest data from Propertymark.

Its figures show that the average number of market appraisals conducted per member branch remained steady at 22 in June, stating that "people are still eager to move home, despite the current economic situation".

The average number of new prospective buyers registered per member branch fell slightly to 69 in June, down from 86 in May. However, femand was only 5% lower in June compared to the same month last year.

The average number of viewings per property continued to fall back slightly from its recent peak in April. In June, the average number of viewings per available property was 2.6 compared to 3.3 in April.

The supply of new homes up for sale per member branch continued to lessen in June — now at eight per member branch. A summer lull is generally expected. However, the average number of sales agreed per member branch held at seven in June, the same figure as the previous month.

The total stock of properties available per member branch fell slightly to 32 on average in June compared to 36 in May, but remains 23% higher than in June 2022.

Nathan Emerson, CEO of Propertymark, commented: "Despite disappointing national economic news reported in June, it is encouraging to see that the number of valuations for sale conducted per branch has remained steady. It is clear that a core portion of the country are still looking to get moving and are not put off by current conditions. And, of course, those coming to the market with a home to sell are most often also looking to buy, which keeps the wheels of the market turning for all."