Q4 housing market strong, with busiest October ever for estate agents

Estate agents across England have been recording their busiest October ever in terms of prospective buyers according to the latest report from NAEA Propertymark. Sales for October also peaked with the highest figure since 2006.

The report suggests that the first-time-buyer market is also healthy, with 21% of sales going to people starting out on the property ladder.

NAEA’s report also shows that only 7% of houses sold for more than the original asking price, a slight fall from September. Data from SDL Surveying also showed that October was the busiest month for surveys and valuations, with November’s figures looking much the same.

Linear advisers have reported that new enquiries are showing no sign of any seasonal abatement either, with December expected to be a busy one after three very active months since August.

November has been particularly positive in terms of new applications and completions, to a degree reflecting the October activity reported by Estate Agencies. Re-financing is also popular with interest rates at record low levels.

Donald Fraser, Sales Director (Group AR) at PRIMIS Mortgage Network said: “Overall, the demand for unbiased advice on mortgages, life insurance and other related personal protection, as well as home and contents insurance attracting attention with good pricing for consumers, enquiries are now exceeding what was experienced prior to the first CoVID lockdown.”

“As 2020 draws towards a close, with health on many people’s minds in the UK right now, it may be a good time to ask a Linear financial adviser to undertake a financial health-check with you, helping ensure your finances are fit for whatever challenges 2021 may bring.”

Your property may be repossessed if you do not keep up payments on your mortgage.

Linear charge a non-refundable mortgage arrangement fee of between £399 and £999 when an application is submitted to a mortgage lender for you. Your adviser will agree the arrangement fee with you before commencing any chargeable work. The actual amount payable will take account of your financial circumstances, the complexity of borrowing requirements and the amount of work required to fulfil your needs.

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