Estate agents are registering four house hunters to every available property as demand is outstripping supply across the UK housing market.
The latest monthly survey from the National Association of Estate Agents (NAEA) shows that estate agents reported a successful selling period for the second month running. The average branch sold 10 properties, a 30% increase on the same time last year and double the amount sold on average in August 2008. The average branch had 299 house hunters on its books in May, up from 265 in April and 247 in May 2008. Gary Smith, president of the NAEA, says: "This is really good news for the housing market and the UK economy in general. NAEA members are showing that there are buyers a-plenty out...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
