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Properties selling over asking price at an all-time high for 3rd month in a row

The June 2021 Housing Report from NAEA Propertymark has reported a continued rush from homebuyers to meet the stamp duty deadline. 

The report also found that 40% of properties sold for more than the asking price in June, which was an increase from 33% in May. It was also the highest figure ever on record, beating last month’s previous all-time record. 

The average number of sales agreed per estate agent branch fell slightly to 11 in June, from May’s figure of 12. However, year-on-year, this figure is the highest for the month of June since 2017 when the number of sales per branch also stood at an average of 11 per month.

The number of properties available per member branch stood at 23 in June, falling slightly from 25 in May. This figure is the joint lowest ever on record for the second month in a row. Prior to this, the record was in December 2002 when there were also 25 properties available per branch. This also means there were an average of 19 potential buyers for every available property on the market.

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