A positive sign of market regeneration comes from figures released from the National Association of Estate Agents (NAEA). The figures show that during April the average estate agent sold ten properties, this is up from an average of eight in March.
Peter Bolton King, Chief executive of the NAEA, said: "What we are beginning to see now are consistent positive indicators that have held firm or improved since the beginning of the year."
the figures are a possible indication of a thawing in the market. As buyers return, taking advantage of the low mortgage rates, it seems that sellers are now putting their properties on the market. Globrix property portal reported 100,000 more properties marketed on their site for April.
Daniel Lee, chief executive of Globrix, said: "It would be foolhardy to start believing we’re at the bottom of the property slump simply because buyers and sellers are returning to the market. There are still likely to be rough waters ahead given the turbulent economic climate, particularly if interest rates start to rise rapidly."
Although it is still early days many are seeing this as an indication that the worst of the property crisis is coming to end. it is yet to be seen if this increase in sales with continue as the year progresses. |
