• In February, sales for first time buyers reached a high.
• With the supply of available properties, the number of house hunters fell in line.
Statistics of sales to first-time buyers (FTBs) and sales per branch:
From 27 percent in January the sales to the group rose to 29 percent in February, which shows that the Chancellor’s FTB stamp duty reliefs have the desired effect.
Since February 2015, FTB sales were the best year on year. In 2016, only 24 percent sales were made to the group, and last year the sales were 22 percent.
The average number of sales agreed to every branch rose to highest amount that is from seven in January to eight in last month since October 2017.
In February the number of house hunters fell from 367 to 309 registered per branch - that is 16 percent.
On a yearly basis, the demand for housing is down by 28 percent, as in February the agents had 425 registered house hunters.
By demand, the number of properties available for sale at every branch dropped by one percent from January to February, that is from 36 to 35.
Selling of Properties:
In February 74 percent of total properties were sold less than the original asking price. There only four percent properties that were sold for more than the asking price.
The rate of 22 percent properties was such that they were sold at the asking price. This was the highest rate since June 2016 when the rate of the houses sold at asking price was 26 percent.
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