Estate agents report increase in sales
The NAEA said that branches reported having sold an average of 8 houses in February, up from 7 in January. The increase means that that sales are now at a 3-month high.
This NAEA also reported an fall in the number of house hunters registered per branch which fell to 289 in February, down from 314 in January.
February also saw an increase in the supply of houses with the average number of properties per NAEA branch increasing from 56 in January to 58 in February.
First time buyers entering the housing market dropped slightly from 25% in January to 24%in February.
Mark Hayward, president of the NAEA, said: “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.
“It is important however that the housing industry, major lenders and Government continue to work together to look at more ways to offer support to prospective homeowners.”