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Housing market continues to slow, says NAEA Propertymark

The housing market has continued to slow and demand from prospective buyers hit the lowest number for the month of November since 2012, according to the November Housing Report by NAEA Propertymark.

The report also found that the supply of available properties and the number of sales agreed per branch fell as well, while sales to first-time buyers remained the same.

The number of house hunters registered per estate agent branch fell last month, from 294 in October, to 282 in November. This is the lowest number of buyers recorded for the month of November since 2012, when agents registered 263.

In November, the supply of available housing fell by 13% for the second consecutive month; dropping from an average of 40 in October, to 35 per branch. This is the lowest recorded since earlier this year, when 33 properties were available to buy per branch in April.

Mark Hayward, chief executive at NAEA Propertymark said: “As we near the end of the year, we’d usually expect potential buyers and sellers to put their plans on hold until early next year, but it’s likely that this year we’ll just see people holding off until there’s some clarity around what the Brexit deal might look like and what it will mean for the economy.”

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