21 Jan

UK house hunter numbers hit six-year high

UK house hunter numbers hit six-year high

Estate agents across the UK are likely to be happy with the news that the number of house hunters has reached its highest point in six years, according to National Association of Estate Agents (NAEA).

A 14.4 per cent increase was recorded by the NAEA for house hunters registering with estate agents in December.

Meanwhile, the report has also revealed that the supply for UK properties has reached its lowest since July 2007.

Between November and December last year a 7.9 per cent decrease in available houses was recorded by NAEA December Housing Market Report. The drop took the average number of available houses accross the UK from 51 down to 47 in this period.

The knock on effect of this supply and demand imbalance led to a 33.3 per cent fall in sales in December. And although this period is typically quieter due to the festive period, many expected a higher sales rate due to the influx of house hunters into the market.

Jan Hÿtch, president of NAEA, said: “The increase in house hunters during December was a welcome surprise at a time where agents usually expect activity to slow down. The multiple media reports predicting price increases in 2014 could have played a part as buyers try to ‘beat the rush’."ADNFCR-1222-ID-801684500-ADNFCR

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