Demand from buyers in UK fell to six month low in May

ssAccording to the National Association of Estate Agents (NAEA), Demand from UK buyers fell to six month low in may. It means that the number of homes selling above asking prices is down by 4% month on month and this is the lowest level since October 2016. Also the number of homes which sold for less than asking price rose to 77% in May, up 5% month on month.

Mark Hayward, NAEA chief executive: “Periods of political uncertainty impact the way buyers and sellers interact with the housing market. In May, it looks like new buyers were stalling their house search until after the election. However, the number of sales agreed per branch increased meaning the political landscape hasn’t deterred all house hunters. Following the result of the general election, it will be interesting to see how the market reacts over the coming months as summer is peak house moving season.”

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