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Number of properties selling over asking price beats all time record again

One in three properties sold for more than the asking price in May, which was the highest ever on record, according to the May Housing Report by NAEA Propertymark. The report said that 33% of properties sold for more than the original asking price, which was slightly higher than in April when 32% of properties sold for more than the original asking price. 

The average number of sales agreed per estate agent branch stood at 12 in May, which is the same as April. Year-on-year, this figure is the highest for the month of May in 17 years, since 2007 when the number of sales per branch stood at an average of 13.

The number of properties available per member branch stood at 25 in May, falling from 27 in April. This figure is the lowest recorded since December 2002 when there were also 25 properties available per branch. This means there is an average of 20 buyers for every available property on the market.

The average number of house hunters registered per estate agent branch stood at 506 in May. This is an increase from 427 in April, and the highest figure ever on record for May, beating the previous record of 421 in May 2004.  

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