Is Demand & Supply in the housing market shrinking?

So says The National Association of Estate Agents!

Estate agents reported a large drop in demand for housing in April, with the number of applicants registered per branch at the lowest level for two years. The NAEA said there were 325 house hunters registered per member branch on average last month – the lowest number recorded since March 2014, when there were 313 house buyers recorded at each estate agent branch. This means demand has decreased by a fifth (22%) from 417 in March.

Last month, the supply of houses available for buyers also decreased by a third (35%) – from 54 properties available in March to 35 in April. One in four (26%) of the total sales made in April were to first-time buyers, a drop of two percentage points from March. However, 33% of estate agents expect sales to first-time buyers to increase following the buy-to-let Stamp Duty changes, which are expected to mean fewer landlords purchasing. On the EU referendum, one in four (25%) estate agents expect house prices to decrease and a further one in four (23%) expect demand to decrease if Britain votes to leave the EU.

Tony Wing DipSurv MRICS FNAEA
Sales Director
Lincoln Office
Email: tonywing@robert-bell.org
Tel: 01522 538888
Twitter: @robertbellandco

Source: propertyindustryeye.co.uk

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