Property sales are up

The National Association of Estate Agents (NAEA) Housing Market Survey for April 2009 showed some positive indicators.

While house prices continued to fall, the number of sales per agent - already at a high - increased substantially to around ten per agent on average.

The number of people registering for property fell slightly - but this figure should be taken in the context that it rose by 12% last month, according to the NAEA. The overall figure for April therefore still remains high and positive.

For the fourth month in a row the percentage of overall sales being made by first time buyers held at a healthy level. This information, first pointed out by the NAEA, has been backed up by other measures in recent months and demonstrates that confidence is returning to the market after a period in which potential buyers were holding off from trying to enter the market.

Key findings:

• Number of house hunters registered with estate agents dipped slightly from 268 in March to 265 in April
• Number of sales agreed per agent increased from eight in March to ten in April
• Average number of properties available for sale increased from an average of 67 in March to 76 in April
• The number of first time buyers (FTBs) held strong in April with no change from March at 23 per cent
• The average selling price across all house types in April was 6.2% lower then the actual asking price

Commenting, the NAEA said: “While the number of people registering to look for properties fell in the past month, the April figure remains high when compared to the past 12 months, and so any dip should be scrutinised in that context. Taking jointly the figures for the past two months, it is clear that there has been a resurgence of interest in the property market, probably reflecting both an increased confidence in the future of the market and a belief that house prices are bottoming out after months of falls and that now might be an opportune moment to secure a bargain.”