Housing
Market
Report
NATIONAL ASSOCIATION OF ESTATE AGENTS
HOUSING MARKET REPORT
May 2016
For further information:
National Association of Estate Agents Press Office
020 7566 9777
[email protected]
Housing
Market
Report
May 2016 Housing Market Report:
REFERENDUM UNCERTAINTY TRIGGERS
THREE YEAR LOW FOR HOUSE BUYER
DEMAND
KEY FINDINGS
 Demand for property in May was at the lowest level recorded in three years, with 304
house hunters registered per branch
 Majority of agents predict house prices and demand will decrease following a vote for
Brexit
 The number of house sales agreed in May also dropped from the previous month
 The supply of available housing and the number of sales made to first time buyers increased
marginally last month
The National Association of Estate Agents (NAEA) May Housing Market Report has found that
demand for housing is at the lowest level seen in three years.
HOUSE-HUNTERS
Average 304 house-hunters
registered per branch in May, down
from 325 in April
Estate agents recorded an average of 304 house hunters registered per branch in May, down six per
cent from April. This is the lowest recorded since November 2013, when 292 buyers were registered
per branch. In May, there was an average 383 house hunters registered per branch – meaning
demand has decreased 21 per cent year on year.
Housing
Market
Report
500
450
400
350
300
250
200
150
100
50
0
Figure 1: number of house-hunters registered per member branch
HOUSING STOCK
Average number of properties
available for sale per branch
increased from 35 in April to 37 in
May
The number of properties available increased marginally in May, from 35 properties available per
branch in April, to 37 last month.
60
50
40
30
20
10
0
Figure 2: houses available per member branch
Housing
Market
Report
SALES TO FIRST TIME BUYERS AND SALES PER BRANCH
27 per cent of sales were made to
first-time-buyers in May
Despite demand for property falling, the number of sales made to first time buyers (FTBs) increased
in May, with nearly three out of ten (27 per cent) of the total sales made to the group.
The number of sales agreed on average per branch decreased in May, dropping from nine last month
to eight this month – the same level seen in January.
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
Figure 3: percent of sales made to first time buyers
Housing
Market
Report
12
10
8
6
4
2
0
Figure 4: Sales agreed per member branch
HOUSES SOLD AT ASKING PRICE
In May, estate agents reported a decrease in the number of properties selling for more than asking
price. Five per cent of agents saw this happen in May, compared to nine per cent in April.
EU REFERENDUM
In May, two in five (41 per cent) agents predicted that house prices will fall and three in ten (30 per
cent) expect demand will also decrease should there be a Brexit.
ENDS
Editor Notes:
For further information contact:
National Association of Estate Agents Press Office
020 7566 9777
[email protected]
About NAEA
NAEA is the UK’s leading professional body for estate agency personnel; representing over 7,000 members
who practise across all aspects of property services. We are dedicated to the goal of professionalism within all
aspects of property, estate agency and land. Our aim is to reassure the general public that by appointing an
NAEA member to represent them, they will receive in return the highest level of integrity and service for all
property matters.