House hunters were on the increase in January and the number of property sales agreed also went up by a third, according to reports from estate agents.
While there was a greater interest from potential buyers, the number of homes for sale decreased between December 2019 and January, however, and the number of first-time buyers remained the same.
The data, which has been collated by NAEA Propertymark, the body which represents estate agents, paints a picture of the property market following the general election.
It followed months of uncertainty when many potential buyers were waiting to see how things would pan out with Brexit and the economy.
In the month following the election, according to the figures, the number of house hunters registered per estate agent branch increased by 22% from an average of 313 per branch to 382 in January 2020.
Meanwhile the number of properties per branch fell from an average of 41 in December to 38 in January.
Mark Hayward, chief executive, NAEA Propertymark said: “It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the general election result.
“As the Spring Budget fast approaches, we hope to see housing as a priority for the new Chancellor.
“A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”
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