HOME BUYERS STORM THE MARKET INTHE HOPE OF MEETING STAMP DUTY DEADLINE.
Key findings:
The number of prospective buyers increased by 29 per cent from October and reached the highest recorded since August 2004.
The number of properties available increased marginally.
Sales to first-time buyers increased to the highest amount seen since July.
DEMAND FOR HOUSING
In November, the average number of prospective buyers registered per estate agent branch reached 580, a 29 per cent increase from 451 in October.
This is the highest number of prospective buyers registered since August 2004, when there were 582 buyers on estate agents' books and the highest number since records began for the month of November.
SALES AGREED
The average number of sales agreed per estate agent branch stood at 13 in November, a small increase from 12 in October. This is the highest figure recorded in the month of November since 2002, when the number also stood at 13.
Year on year, the average number of sales per branch has increased by 86 per cent, rising from seven in November2018 and 2019.
SALES TO FIRST TIME BUYERS
The number of sales made to first time buyers stood at 24 per cent in November, rising from 21 per cent in October.
Year on year, this is a fall of four percentage points from 28 per cent in November 2019.
SUPPLY OF AVAILABLE PROPERTIES
The number of properties available per member branch stood at 40 in November, rising marginally from 39 in October.
WHAT PROPERTIES SOLD FOR
In November, 10 per cent of properties sold for more than the original asking price.
This is an increase from October, when seven per cent of properties sold for more than the original asking price.
The majority (58 per cent) of properties sold for less than the original asking price in November.
