"Although we have seen a decrease in the number of houses available per branch, we have seen a rise in the number of sales"
The number of sales agreed rose in June, with the proportion of sales made to first-time buyers up by 30% – the highest amount since January.
The number of house hunters registered per branch increased by 10% in June and by 16% compared to June 2016.
However the gap between supply and demand is increasing, with the number of properties available per branch dropping from 40 in May to 37 in June.
Additionally, the number of homes which sold for less than asking price rose to 79% last month – up two per cent from May. Only 2% of properties sold for more than asking price in June, a decrease of one percentage point from May.
Mark Hayward, Chief Executive at NAEA Propertymark, said: “In May, we saw a period of political uncertainty, with new buyers stalling their house search until after the election. In June however, it seems the market has bounced back, with the number of house hunters rising.
"Although we have seen a decrease in the number of houses available per branch, we have seen a rise in the number of sales – which is typical of this time of year as buyers and sellers push through their property transactions ahead of the quieter summer months.”
