Estate agents’ report offers positive indicators - Mortgages - News - Moneyfacts

News

Estate agents’ report offers positive indicators

Estate agents’ report offers positive indicators

Category: Mortgages

Updated: 19/05/2009
First Published: 19/05/2009

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 It is now over 6 months old so the content may be out of date.

The National Association of Estate Agents (NAEA) has said the findings of its April housing market report showed some positive indicators.

Figures released by the body show that the number of sales per agent in the month increased from eight to ten. This was described as great news for estate agents and for the property market as a whole.

The average number of houses available for sale also increased, up from 67 in March to 76 in April.

While the number of house hunters registered at agents showed a slight fall – from 268 to 265 – it is worth remembering that the figure rose by 12 per cent in March.

The NAEA said the last two months' figures shows a clear resurgence of interest in the property market, which is being driven by returning confidence in the sector and a belief that low prices make for an opportune time to enter the market.

The overall percentage of purchases made by first time buyers held firm at 23 per cent for the fourth month in a row.

Figures also showed that the average selling price across all house types in April was 6.2 per cent lower than the actual asking price.

Richard Copus, of the NAEA's Devon branch, said April saw an unheralded revival in almost every way, with the most viewings in a year and a half, more sales agreed and more valuations, although the number of instructions is not yet high enough.

"There is a definite buzz in the air at last," he added.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!
 
Close