Agents optimistic for spring market

Robyn Hall

January 28, 2013

The findings also showed that fewer postcodes, 16.2%, registered price falls in January compared to December 2012, 27.4%, and supply contracted to its lowest level for three years on a rolling six month basis.

And although new buyer registrations and property listings were down over the month these are expected to post a rebound in the February survey.

Richard Donnell, director of research at Hometrack, said: “A lack of supply is acting as a support to pricing levels and is a key theme as we start 2013.

“And demand for housing remains sensitive to the wider economy and in turn, consumer confidence.”

Despite the slow start recorded in the January survey the housing market looks to be in slightly better shape than at the start of the previous two years.

The survey results showed a greater realism over pricing by sellers.

Compared to this time last year the percentage of asking price achieved has increased in all regions bar two, the East Midlands and the North West.

Looking ahead to the performance of the market in the coming months will be dependent upon sufficient new supply.

Five years into the downturn sales of homes are still running at less than one million a year.

Donnell said: “The spring housing market will be a key test of whether UK households are willing to act upon a slowly improving sense of optimism.”

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