An increasing number of people may be securing mortgages to purchase property as a result of so-called serious sellers returning to the market.
New research from the National Association of Estate Agents (NAEA) has shown the sector fared better than many anticipated over the summer months, with many in the business recording increased sales during August.
According to the organisation, a typical estate agent offloaded eight properties per branch in the four-week period.
This was a rise on the seven reported in July and a climb on the seven posted during the same spell 12 months earlier.
Furthermore, the study revealed the number of people registering to look for homes climbed from 299 to 304 on average – which could result in an uptick regarding the number of mortgage applications in the future.
Wendy Evans-Scott, president of the NAEA – which was founded in 1962 by entrepreneur Raymond Andrews – said: “Although supply levels dropped slightly, the number of sales made held strong, suggesting that those sellers that have remained in the market are pricing their homes sensibly.”
