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Home seller confidence returning

Home seller confidence returning

Category: Mortgages

Updated: 16/04/2010
First Published: 16/04/2010

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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 It is now over 6 months old so the content may be out of date.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 property market continued to move in the right direction in March, after the number of homes put up for sale reached a six month high.

Housing stock increased by 8% during the month, reflecting a rise in homeowners' confidence that the time is right to sell their property, said the National Association of Estate Agents (NAEA).

The number of people registering their interest in buying a home also increased, while there was a rise in the number of sales agreed too.

"With the bad weather now behind us, buyers and sellers alike are returning to the market with a renewed vigour," said the NAEA, adding that the increase in house hunters was likely to further support and improve sales levels in April and May.

A slight drop in the percentage of first time buyers on the market saw an admission that more still needs to be done to help people take their first step onto the property ladder.

However, the NAEA remained confident that the move to extend the stamp duty threshold would have a positive impact in the coming months.

"Mr Darling's announcement to raise the threshold of stamp duty land tax for two years was a victory for thousands of first time buyers and it will be interesting to note the immediate effect on the market in April's figures," added the report.

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