Thursday, February 17, 2011
HOUSEHUNTERS returned
to the UK housing market in January as demand figures reached a six
month high, according to the National Association of Estate Agents
(NAEA).
The NAEA market
report for January showed gains across both supply and demand for
housing compared with December, although this remains in-line with
figures from the same time last year.
The number of people
registering with estate agents to buy property improved from an
average of 227 in December to 252 in January. However this is
still down on January 2010's figure of 291.
While both the end of
the holiday season and back-log in demand following December's big
freeze helped to boost activity in January, this latest reports
suggests there is still a considerable number of consumers
reluctant to enter the market.
The number of houses
available for sale increased from 64 per branch in December to 69
per branch in January indicating that demand for property can be
met in the short-term, which will ensure stability. The average
agent sold six properties in January compared to four in
December.
Michael Jones,
President of the NAEA, said: "It is encouraging to see activity
levels begin to increase following the downturn we saw in December
where bad weather and the Christmas festivities kept many house
hunters away.
"However, when
compared with our report from this time last year, the market is
still showing signs of consumer reluctance. Macro-economic issues
such as the VAT rise and interest rate pressures continue to put
many people off searching for property.
"What we need to see
now is the FSA using its newly-gained powers of oversight to ease
mortgage lending restrictions that are preventing so many first
time buyers from entering the housing market.
"The percentage of
sales made to this consumer group decreased slightly from 25 per
cent in December to 24 per cent last month. We must ensure that
their aspirations for property ownership can be met."
Editor Notes
About the NAEA
The National
Association of Estate Agents (NAEA) is the UK's leading
professional body for estate agency personnel, representing the
interests of around 10,000 members who practice across all aspects
of property services both in the UK and overseas. These include
residential and commercial sales and lettings, property management,
business transfer, auctioneering and land. The NAEA is a sister
organisation to the Association of Residential Letting Agents
(ARLA), as is PropertyLive.co.uk, the UK's only regulated property
portal.
The NAEA is dedicated
to the goal of professionalism within all aspects of property,
estate agency and land. Its aim is to reassure the general public
that by appointing an NAEA member to represent them they will
receive in return the highest level of integrity and service in
both sales and lettings, for all property matters. Both NAEA and
ARLA members are bound by a vigorously enforced Code of Practice
and adhere to professional Rules of Conduct. Failure to do so can
result in heavy financial penalties and possible expulsion from the
Associations.
Contacts
NAEA PRESS OFFICE
Tel: 020 3128
8181
E-mail:
press@nfoppmedia.com