21 April 2010

With the arrival of Spring has come a burst of life into the housing market, according to the National Association of Estate Agents (NAEA).

Activity in the market was slow at the turn of the year, due to the extreme winter weather conditions and an end to the stamp duty holiday, which had caused a rush to buy homes in late 2009. This had caused some property professionals to report decreased house values and reduced mortgage lending.

The NAEA have announced that the number of potential sellers grew by 7% in March, the highest level seen for six months, causing speculation that activity in the market is set to increase. The NAEA also noted that the average number of houses for sale in each of its member’s branches rose from 56 to 60 in March, with sales increase from 6.8 per branch to 8.

Gary Smith, NAEA, added: “Spring has finally arrived and brought with it a much needed boost to the housing market, particularly among sellers.”

Source: Home Move


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