Renewed optimism in housing market

A survey by the National Association of Estate Agents (NAEA) has shown increased confidence in the UK housing market, after a period of decline.

The NAEA housing market survey showed that sales, buyers and the amount of housing stock all increased. Housing stock rose by an average of 9% per agency, while buyer numbers rose by 11%.

Stewart Lilly, the president of the NAEA, said the increased optimism in the housing market was a result of buyers and sellers returning to the market after the New Year.

He also said that recent cuts in interest rates had also had an effect on buyer numbers.

Further research from the estate agent Spicerhaart showed that numbers of first time buyers are also increasing. Currently first time buyers make up 30% of property purchasers – an increase of 2%.

Reductions in interest rates have encouraged first time buyers to take a step onto the property ladder, according to Steve Cox of Spicerhaart.

« back to development finance news