Housing stock on the up, says NAEA
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The number of properties for sale has hit its highest level for the last six months, shows the latest data from the National Association of Estate Agents.
The average number of properties for sale per branch rose to 60 in March, up from 56 in February.
But the number of those looking for a home has also increased from 258 in February to 274 in March.
This means that there are approximately 4.5 house hunters for every home on the market.
The percentage of first-time buyers has dropped slightly from 24% to 23%.
An NAEA spokesman for the West Sussex area says: “There are certainly better signs but it is not as active as we would expect for this time of the year - everything seems to be running a month or so late.
“Many sellers are convinced that their price has gone up a lot over the last few months so the danger is that they will miss the boat by being too ambitious.”
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Readers' comments (2)
Anonymous | 16 Apr 2010 10:00 am
The amount of properties for sale is no great indication of anything. We need to see a rise in the number of mortgage approvals before we get too carried away.
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Lewis Greene. | 16 Apr 2010 10:14 am
If Banks start lending for first time buyers then we will see a massive increase in the housing stock. Come on lets face it....Stamp duty isnt making a difference...the banks need to do more.
Lewis Stephen Greene
SGL Resourcing
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