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Sellers make their way back to the housing market

Sellers make their way back to the housing market

Category: Mortgages

Updated: 27/07/2011
First Published: 27/07/2011

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 It is now over 6 months old so the content may be out of date.

House sellers are being tempted back to the market, with the number of people looking to sell their properties rising to a more than two year high in June.

Figures from the National Association of Estate Agents (NAEA) show the average number of people putting their homes up for sale at its members' branches rose from 68 to 74 in the month.

It is the highest figure recorded since April 2009, when there was an average of 76 sellers per branch.

Wendy Evans-Scott, president of the NAEA, said the leap in the number of available homes suggests increased confidence amongst sellers.

"They think there is a much better chance that their home will sell. For house-hunters, this is welcome news as it offers a wider choice of properties to pick from," she added.

"However, efforts are still required to assist those looking to get onto the housing ladder if we are to see buyer activity match that on the sale side."

The number of sales agreed also increased, from an average of eight per branch to nine, suggesting that the increase in sellers reflects confidence in the market rather than a glut of unsold properties.

However, the percentage of sales to first time buyers fell from 24% to 20% from May to June.

The number of people looking to buy a home also dropped marginally, with NAEA branches reporting a fall from 275 to 263 in June.

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