Estate agents have reporte.d their busiest December on record for house hunters, with a 33% year-on-year rise in activity, according to the latest data from NAEA Propertymark
Propertymark says that the average number of house hunters registered per member agent branch stood at 461 in December, the highest number on Propertymark records and an increase of 33% against December 2020.
The data also revealed that the number of properties available per member branch fell to just 19 in December, a continued decline from 20 in November and is the lowest figure Propertymark has ever recorded. This means each member branch has an average of 24 buyers for every property they have for sale.
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 5 years, the figure is in line with the average number of sales agreed per branch for the month of December
What properties sold for
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 number of members’ sales made to FTBs fell to 14% in December from November’s figure of 29%.
Nathan Emerson, Chief Executive, Propertymark, comments: “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.”