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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
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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.

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