CPS Homes

NAEA reports an increase in the number of house hunters

The UK housing market in March saw a sharp rise in the number of property enquiries, according to estate agents.

The National Association of Estate Agent's (NAEA) market report for March showed an increase in the number of house hunters registering with an agent across the UK. The figure rose from 268 in February to 290 in March as an average per branch - its highest level in eight months.

The number of houses available for sale decreased slightly from 70 per branch in February to 68 in March while the number of sales remained the same with eight per branch on average.

The percentage of sales made to first time buyers decreased slightly, moving from 25 per cent of the market share to 23 per cent, however this figure is still in line with the year-on-year average. 

NAEA President Michael Jones said: "We are very pleased to see that the market has remained relatively stable despite the continued economic pressures that are making life very difficult for homeowners and those looking to enter the property market.

"The significant growth in demand for homes reported by our agents suggests that house-hunters are searching for a good deal on property before the traditional spike in activity over the Easter holidays.

"That said, the picture is still very varied across the country and significant economic barriers remain. Although the Chancellor's Budget last month did grant some concessions to First Time Buyers, it didn't go far enough to assist the wider property market. Rather than new build projects to help people onto the housing ladder, the government should instead be looking at ways to maximise mortgage availability."

Source: NAEA

20 April 2011

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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