Is The Property Market Picking Up?Policy Expert News | Policy Expert News
The latest report of the Association of Estate Agents contains some interesting reading for property owners with landlord insurance.
It indeed seems as if the property market is starting to show some signs of life. The report indicates a 25% increase in the available stock of houses over a 12-month period.
A leading estate agent also reports that the number of buyers on their books increased from an average of 252 per branch in January to 258 in February. This is the best it has been for seven months.
The same company reports that they also saw an improvement in sales over the same period. The average number of sales increased from six to eight per branch. Consumers still seem to be concerned with the possibility of an interest rate increase though.
Michael Jones, President of the NAEA, said “To see such a significant boost in activity amongst sellers compared with this time last year is encouraging news for the UK property market.” He added that sellers seem to be getting more realistic about the price they want for their property. This could lead to a more balanced marketplace and hence more stability – at least in the short term.
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