Housing market encouraging in September

The housing market showed encouraging signs of recovery in September, according to the National Association of Estate Agents.

September was an important month for the house market as it exhibited underlying signs of recovery, particularly when the market is generally quieter during the summer months.

The number of house sales agreed per estate agent branch increased in September from 238 in August to 294 in September.

The number of completed sales per branch also rose, from an average of 8 in August to 9 in September.

Estate agents will be particularly pleased to see the increase in the number of house hunters registering at their branches, which shows renewed interest from house buyers.

First time buyers were not as active, with 36% less FTBs registering in September compared to August.  The number of houses being marketed also fell slightly.

Whilst these figures do allow for some optimism, factors such as the stamp duty holiday, which ends in December, may slow down market momentum in the coming months.