Latest data published by the National Association of Estate Agents (NAEA) show that the number of sales agreed in April have reached their highest level since October 2018.
Further statistics indicate that first-time buyers are continuing to grow in the property market as 2019 continues.
Estate agents have continued to see property buyers and sellers defy Brexit property market predictions. Furthermore, first-time buyer sales’ have increased in April to 27%, a year-on-year 3% rise.
“Despite a fall in housing supply and demand, it’s encouraging to see an increase, for the first time this year, in the number of sales going through.”
“This means that even though buyers and sellers remain uncertain given the current climate, many are continuing to move forward with their transactions and sales are still happening at the rate we would expect to see at this time of year.”
“More than four in five properties are selling for less than the original asking price, so there’s opportunity for house buyers and sellers to negotiate an offer to get a sale moving.”
With encouraging figures from the NAEA dismissing initial market concerns heading into 2019, property developers and home sellers are continuing to welcome a new market in the form of first-time buyers. Read more.
Although there has been a fall in housing supply and demand, these latest figures indicate that there is a core market of property buyers who are looking to move ahead with purchasing their home and moving onto the property market ladder.
Just last month, conveyancing figures have continued to grow despite initial Brexit figures and previous predictions.
This is a clear indicator that well-built homes that can attract buyers remain marketable on the UK property market.
The UK property market remains incredibly stable and represents a good investment opportunity for property developers. However, given that first-time buyers are growing into the market, it’s vital that the right property is built in the perfect area which will attract a number of offers.
We’ve seen and covered key hotspots across South England, that includes a property market boom in Essex, more affordable homes being built in Hampshire and exciting regeneration projects across London, that includes Surbiton and Stratford.
Figures revealed by the NAEA show that property transactions have remained the same year-on-year, providing comfort to property developers and home sellers that the chances of selling a property haven’t decreased.
For those involved in property development, these are encouraging signs that investing in development and the UK property market is a viable move.
Hunter Finance are experts when it comes to development finance, and our team is here to provide you with further information into the market and what options are best for your development.