Homebuyers’ confidence returns to pre-Brexit levels

The latest report from the National Association of Estate Agents shows that during September, demand for housing increased by 16%. These figures show that confidence is unwavering following the Brexit vote.

Increases

Data from the report reveals that during the last month, the average number of house seekers registered per member branch rose from 287 to 333.

This represented an increase of 16%, taking the number of would-be house buyers make up to levels seen in June.

There was a slight decrease in houses available to buy during September, from 41 to 40 properties registered per member branch. However, August’s levels were the greatest seen since March.

In addition, the number of sales agreed increased by 12.5% in September to an average of nine per branch.

Homebuyers’ confidence returns to pre-Brexit levels

Growing confidence

Mark Hayward, Managing Director at the National Association of Estate Agents, commented: ‘This month’s report proves that buyer confidence is growing, which is obviously reassuring, given that we expected uncertainty following Brexit. Although supply has dropped marginally, this does not concern us as it’s still higher than the levels we saw between April and July. However, it is worrying that the number of sales being made to first time buyers has fallen to the lowest number in 10 months.’[1]

‘The fact the Government’s Help to Buy housing scheme is due to close this year might pose more of a challenge for those who were relying on this to help get their foot on the property ladder. We now look ahead to the Autumn Statement and look forward to seeing what plans the Government puts in place to assist first time buyers towards their goal of homeownership,’ Mr Hayward continued.[1]

[1] http://www.propertyreporter.co.uk/property/homebuyer-confidence-hits-pre-brexit-levels.html