House supply levels increased in February at the same time house hunter and first-time buyer levels dropped, according to data from the National Association of Estate Agents.
The average number of house sales rose from 7 in January to 8 in February, following a surge of demand for property in January when an average of 314 house hunters was registered per branch. In February, this dropped down to an average of 289 per branch.
The average number of FTBs entering the housing market meanwhile dropped from 25 per cent in January to 24 per cent in February. The proportion of purchasers was higher than the 23 per cent recorded for February 2012.
House hunters per branch dropped from an average of 314 to 289 over the same period of time.
NAEA president Mark Hayward says: “These latest figures for February indicate not only that serious house hunters remain in the market, but that sellers are getting more confident that they can secure a sale in the current climate.
“In some cases, lending rates have become more attractive to those who can afford to pull together a deposit on a home. Certainly, the Chancellor’s unveiling of the ‘Help to Buy’ scheme in last week’s Budget, which included a package of measures to support those struggling to get onto the property ladder, is a positive development.”