Thursday 4 August 2011

RETURN OF SELLERS BOOSTS HOUSING MARKET CONFIDENCE


The number of people selling their home rose in June to its highest level in more than two years, according to the National Association of Estate Agents (NAEA).

The average number of properties for sale per branch increased from 68 in May to 74 in June. This is the highest figure since April 2009, which saw an average of 76 homes for sale per branch.

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

The percentage of sales to First Time Buyers (FTBs) decreased slightly from 24 per cent in May to 20 per cent in June.

President of the NAEA Wendy Evans-Scott said: "The leap in available housing stock 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.

"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."

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