The number of properties available per member branch has increased by 47% since last winter, while demand has increased by 79% over the same period, the latest Propertymark housing report reveals.
The data shows that the number of agents reporting an average agreed price equal to or higher than the asking price has remained stable since July, when there was a slight drop from June.
Propertymark says it shows “the winds are still blowing in the seller’s favour, if not as strong as before”.
Month-over-month, there was also an uptick in potential new registered tenants and instructions, suggesting the fall market started a bit early.
The number of new shoppers registered per member branch in August was up slightly from July, which the report said indicates the start of a pick-up for the fall season.
There were 86 potential new buyers registered per member branch in August.
Meanwhile, there were 11 new instructions on average per member branch last month, which has been fairly stable since December of last year.
The average number of properties available for purchase per member branch was 28 last month, which showed a marginal increase since the winter dip, but still below the pre-pandemic average of 40 properties available in August.
However, this represents an increase of nine per Member Section since last December, an increase of 47%.
Last month, Propertymark reported that some buyers were starting to get homes below asking price, with 27% of branches now reporting that most sales were made below asking price, down from a low of just 15% in March.