NAEA: Serious house hunters returning
The latest figures from the NAEA housing market report revealed that although the number of house hunters dropped slightly to an average of 286 in March compared with 289 in February house sales remained steady month on month at an average of 8 per branch.
This puts the ratio of house hunters purchasing homes at levels not seen since the summer of 2011 with one home being sold for every 39 house hunters during the first quarter of 2013, improving from one every 43 during the same period last year.
Mark Hayward, president of the NAEA, said: “House hunters who are set on completing their purchases have not been deterred by the cold start to spring and sales have remained resilient despite the conditions.
“With the cold weather finally withdrawing we now expect that the overall number of house hunters may rebound over the next couple of months.”
The NAEA said the figures reflect a steady confidence in the housing market in the first quarter of this year and a return of the serious house hunter.
However the association said there is some concern that the percentage of overall sales to first time buyers.
The figures revealed that first time buyer purchasers dropped during March suggesting that such buyers are still struggling to gain sufficient access to the mortgage finance they need, despite a raft of recently announced government measures.
Hayward said: “First time buyers are still in need of further help however. The declining numbers this year prove that existing government schemes outside the new home sector are still failing to give this portion of the market acceptable access to mortgage finance and more must be done in the short term.”