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House hunters fall but sales increase

House hunters fall but sales increase

Category: Mortgages

Updated: 16/03/2010
First Published: 16/03/2010

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 It is now over 6 months old so the content may be out of date.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 number of house hunters in the UK fell during February, but the number of sales agreed by estate agents increased, new figures show.

On average, the number of house hunters registered at each branch of members of the National Association of Estate Agents (NAEA) fell from 291 in January to 258 in February.

The decline has been partially blamed on freak weather conditions that saw huge swathes of the UK affected by snow blizzards. The realisation of the end of the Stamp Duty Holiday may also have contributed.

Despite the conditions, members of the NAEA have reported that the number of sales agreed per branch increased from an average of six to seven.

The level of housing stock also remained stable in February, another indicator of a strengthening market, while the percentage of first time buyers increased slightly, from 23 per cent to 24 per cent.

Figures from earlier revealed that the number of products for first time buyers has improved significantly since the outset of 2010, with a number of lenders launching mortgages that require small deposits.

Separate data from Communities and Local Government has reported that the average price of a property in the UK at the end of January was £207,159.

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