The sales market remained strong throughout August, recording a 29% rise in the number of new properties for sale when compared with July, Propertymark’s Housing Insight Report for August 2023 has revealed.
The average number of new prospective buyers registered per member branch was up to an average of 81 in August 2023, from 64 in July.
The supply of new homes placed for sale per member branch in August also showed another positive uplift, and was recorded at an average of 13 per member branch.
The average number of sales agreed per member branch remained static, however.
The number of new prospective tenants registered per member branch showed a further climb; August 2023 had an average of 197, compared with 149 in July 2022, a rise of 32% year on year.
Nathan Emerson, CEO of Propertymark, said: “The sales market is strong as we see a 29% rise in the number of new properties for sale when compared with last month.
“This shows that many people are continuing to find an affordable middle ground when coming to the market with negotiations well underway.
“We imagine this picture will only get stronger with more sales completing in the coming months given the recent positive news of inflation rates remaining unchanged.
“This will give much needed encouragement to those buyers who were hesitant.”
He added: “As for the lettings market, the picture remains the same.
“There has been little urgency from governments across the UK to address the supply and demand issue by incentivising investment for landlords.
“We continue to see this gap widen as more people come to the market to look for a home, with very few properties available to rent.
“This continues to put pressure on rents as 68% of our member branches felt rents have risen compared to last month.”
