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Confidence in housing market rises

Confidence in housing market rises

Category: Mortgages

Updated: 23/03/2009
First Published: 23/03/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

There are signs that confidence is gradually returning to the housing market, according to the latest research from the National Association of Estate Agents (NAEA).

Estate agents reported a rise in sales in February, with each agent selling an average of eight properties over the month, returning sale numbers to the same level as 12 months ago.

In addition, the return of first time buyers to the market, noted in January, also held firm, dropping just one percent from 25 to 24 as a percentage of total sales.

Chris Brown, president of the NAEA, said the rise in sales represented a real boost to a beleaguered market. "The housing market has had a devastating year, but now prices are lower than they have been for a long time and there are bargains to be had," he added.

"These little signs all add up to a glimmer of light at the end of what has been a long and difficult tunnel."

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