Housing Market Encourages More Sellers

There was an increase in the number of people putting their house up for sale in February, according to estate agents.

The number of properties for sale jumped by 25 percent compared to twelve months ago, the latest market report from The National Association of Estate Agent’s (NAEA) shows.

Not only have sellers been encouraged, but house hunters too seem to have been persuaded to register with estate agents. The number of house hunters registering in February was the highest for seven months.

Sales, too, increased across the property market in February, growing from an average of 6 to 8 per branch month on month, although there is concern amongst consumers about rising interest rates and the poor availability of mortgages.

These figures show signs of encouragement about the health of the property market, says Michael Jones, President of the NAEA:

“To see such a significant boost in activity amongst sellers compared with this time last year is encouraging news for the UK property market.

The signs are that they are being more realistic about the price they can expect to achieve when they put their house on the market. This means that, on the whole, supply can meet demand levels, meaning a more stable market, for the short term at least.”