New buyer registration growth declines

The growth in new buyer registrations declined to 4.6% this month, according to Hometrack.

This compares to a 6% increase in both April and May, according to Hometrack‘s housing market survey for June, published today.

Agreed sale volumes were also down, increasing just 6.4% compared with the 14.9% and 9.4% increases seen in April and May respectively. But 91% of asking prices were achieved, up from 89.6% and 90.3% in April and May respectively, with the average time properties spent on the market down to 9.4 weeks.

Richard Donnell, director of research at Hometrack, says: “The jury is still out as to whether the momentum gained over the spring and early summer can be maintained for the rest of the year. The two key risks for the market are either a renewed weakening in demand or a surge in the volume of housing for sale.”

He adds: “The lack of housing for sale looks set to remain a continuing theme for the foreseeable future. The buoyant economic conditions of the last decade saw a high amount of discretionary housing moves funded by easy availability of credit.

"The simply truth is that the majority of households either do not need to move or are unable to afford a move or just do not have the confidence to move.”

In terms of prices, the survey reveals that monthly prices remain unchanged, but they declined 8.7% in the year to June.

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