10:34 AM, 1st March 2016, About 6 years ago 1
The National Association of Estate Agents (NAEA) have released their UK housing market report for January 2016 showing the supply of available housing is at it’s lowest point in 14 years.
The report indicates the number of properties available per NAEA member branch fell to 33 in January, the lowest figure since December 2002 when only 25 properties were available per member branch.
However, demand for housing had a massive up turn in January. There was an average of 453 house hunters registered per branch the most since last summer and a 21% increase from December.
The NAEA reports this reflecting an increased activity from landlords try to complete on new buys before the increase of a 3% surcharge on Stamp Duty for 2nd property purchases coming into effect on April 1st. This is shown in 72% of estate agents reporting an increase in interest from landlords.
Managing director of the NAEA, Mark Hayward, said “Our findings this month reflect what we are all seeing across the market which is that landlords are trying to complete on sales ahead of the changes to stamp duty on additional homes in April. It continues to be a sellers’ market as demand outstrips supply.”
“The number of sales made to FTBs has increased this month, and we should expect to see their market share rise after April. The fact that housing supply has reached a 14 year low really highlights the need for the government to push the house building programme to the very top of their agenda and help more FTBs make their first step on to the housing ladder.”
NAEA bar chart below:
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Previous ArticleHousing and Planning Bill - effects on BTL?
Next ArticleBeneficial Trust to wife now tax is going to bite?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|