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Property sales dip in August but up on 2008, says NAEA

The number of property sales per estate agency branch dipped between July and August this year but were up on 2008 figures, the National Association of Estate Agents reports.

Although average sales per branch dropped from 8.6 in July to 7.6 in August,
this figure is still higher than any recorded in the last six months of 2008
where sales were as low as 5 per branch.

The number of house hunters registered with estate agents dropped from 292 in July to 238 in August, but is up significantly on the 207 house hunters recorded in August 2008.

The average number of properties for sale saw a slight increased from 59 in July to 64 in August, which the NAEA says could be the start of an upward curve.

There has also been a sharp increase in the percentage of first time buyers from 22 per cent in July to 36 per cent in August.

The gap between asking and selling prices increased during August to 11 per cent from 7.5 per cent in July.

The NAEA says: “The expected summer dip in activity was not as bad for the market as feared.

“August saw a decline in the number of registered househunters, as expected for the summer holiday season. Despite this, however, sales remained relatively strong.

“Particular positive market indicators include the continued presence of first time buyers in the market.

“This is the sector that often forms the basis of chains and if sustained will lead to a general improvement in the market.”


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