The Press Association: House market enjoys new year bounce

The Press Association: House market enjoys new year bounce

The property market experienced its traditional new year bounce with the number of house-hunters reaching a six-month high in January, research has indicated.

The average number of potential buyers registering with estate agents jumped to 252 during the month, up from 227 in December, although the figure was 13% lower than January last year, according to the National Association of Estate Agents (NAEA).

There was a slight increase in the number of homes on the market, with the average estate agent having 69 properties on their books, compared with 64 in December.

The group said the increase in activity had been caused by a backlog due to the freezing weather in December, as well as people putting moving plans on hold during the festive season, but it added that the lower level of potential buyers compared with a year ago suggested that many consumers were still reluctant to enter the market.

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