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Research reveals large spike in prospective homebuyers

The latest research by NAEA Propertymark has revealed a large spike in the number of people looking to buy a home per branch of estate agents, with these numbers hitting their highest level in a decade and a half.

During November, the total number of such buyers for each estate agent, on average, hit 580, according to the study. This is a rise of 29% in comparison with the figure for October, and also represents the highest average monthly number of buyers since August of 2004, when the total was 582.

That was not the only good news for the UK property market last month, however, as the average number of house sales agreed per estate agents was 13. This is the best average for any November since that of 2002, when the figure for the month was also 13. Looked at from an annual perspective, there has been an 86% increase in the average number of agreed house sales.

There was also a month-on-month rise in the number of homes purchased by people entering the property market for the first time, going from 21% on average per estate agent during October to 24% last month.

https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpg Hayward from NAEA said that the rise in these totals was likely to have been caused by the desire of people to buy their dream homes before savings like the stamp duty holiday come to an end.

Mortgage advisors will be needed to deal with this demand, making it a great time to do CeMAP training.

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