Boost in housing supply and demand

Both the number of properties for sale and the number of would-be buyers increased in April, as estate agents became more optimistic about the months ahead.

Figures from the National Association of Estate Agents show that the average number of people registering to buy per branch has gone from 274 in March to 278 in April.

The average number of properties on the market for each branch has also increased from 60 to 62, the highest figure since last October.

Average sales have held at 8 per branch, while the proportion of first-time buyers has dipped from 23% to 21%.

Gary Smith, president of the NAEA, says: “A major housing trend over the past six months has continued to be the relatively low numbers of sellers coming to market.

“For three months, however, the number of sellers has increased steadily.

” At the same time demand has stayed strong, as have the number of sales being agreed.”

He adds: “All of the trends reported by our members point to reasonably sunny prospects for the summer housing market.”