The property week in numbers – plus, first time buyers squeezed out?
More than half of men believe their property will increase in value over the next 12 months compared to 42% of women (Source: Clydesdale and Yorkshire Banks)
In September, prices paid by first-time buyers were 5.3% higher on average than in September 2012 (ONS)
The average tenant now stays in a property for just under 20 months (Association of Residential Letting Agents)
We use as much land for golf courses in England as we do for homes (Colin Wiles, Inside Housing blog)
More than one in 20 Brits have injured themselves when putting up Christmas decorations (Confused.com)
Typical time houses spend on the market is 120 days, four days less than in November 2012 (home.co.uk)
More than 20% of the 1,500 homeowners surveyed across the UK said that the value of their home had risen over the last month, up from 9.1% in November last year. Only 5.2% of households said the value of their home had fallen over the last month (KnightFrank)
Between July and September, chartered surveyors sold an average of 20.3 homes, the highest amount since February 2008 (RICS)
Will first time buyers be squeezed by record numbers of homehunters?
There are significantly more active house hunters in the market compared to this time last year, according to The National Association of Estate Agents (NAEA) who say that first time buyer numbers have fallen.
Figures from the NAEA show an increase in the numbers of househunters over the past year, up from an average of 265 in October 2012 to 332 in October 2013 and up 5.7% on the last month alone. Buying a house as a couple was the most popular method seen by member agents, with nine out of ten properties being sold to pairs. Only 6% of properties were sold to individuals.
However, first time buyer figures dropped from 25% in September to 24% in October, making this the second month in a row in which agents saw fewer first time buyers.
There was also a sharp drop in properties available for sale, falling from an average of 57 per branch in September to an average of 53 per branch in October.
NAEA member agents reported an increase in completions, up from an average of nine per branch in September to 10 in October, equalling the four year high reached in May 2013. The most popular age group buying property in October was the 31-40 year olds, making up 43% of home buyers, followed by the 41-55 year olds at 42%
Jan Hÿtch, President of the National Association of Estate Agents, said: “I will watch the first time buyer numbers with considerable interest in the coming months to see if the decline reported by our members is addressed by the take up of Help to Buy.”
Pictured is a 2 bedroom semi detached house for sale in Townsend, Norton St. Philip, Bath BA2, on for £345,000 with Pritchards
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