Number of house hunters per branch reaches new high

The average number of house hunters registered per member agent branch stood at 461 in December, the highest number on Propertymark record.

This is an increase of 33% from December 2020.

In contrast, the number of properties available per member branch stood at just 19 in December, a continued decline from 20 in November, and the lowest figure Propertymark has ever recorded.

Due to this, each member branch was found to have an average of 24 buyers for every property for sale.

The average number of sales agreed per member branch fell slightly to five in December, from November’s figure of seven.

This figure was less than the number of sales agreed last year, which stood at eight per member branch for December 2020.

However, looking back over the past five years, the figure was in line with the average number of sales agreed per branch for the month of December.

In November, 38% of homes sold by Propertymark agents went for over the asking price; however, in December 50% of homes sold for the original asking price.

In December 2020, just 28% of properties sold by members were agreed at asking price, with the majority (67%) agreeing sales at under asking price.

The number of members’ sales made to first-time buyers fell to 14% in December from November’s figure of 29%.

Nathan Emerson, chief executive of Propertymark, said: “Although December shows the usual festive lull compared with previous months, demand has still been incredibly high when compared against pre-pandemic data with more house hunters registered than in any other December.

“This could point to a busy January and a perfect time to sell your home if you’ve been thinking about it.”

Written by: Houseladder