NAEA reports signs of improvement in the property market
Country Life reveals the latest property news on the recent signs of turnaround in the housing market
According to new research from the National Association of Estate Agents, the current property market is levelling out.
Country Life reports that despite fewer people entering the market, stability is reported in the number of sales agreed, the number of viewings before a sale is clinched, the time between instruction and sale, and the percentage of agreed sales that have fallen through.
‘The good news is sales are not getting any worse, which is encouraging,’ says Peter Bolton King, group chief executive of the NAEA. There are one or two green shoots, perhaps due to some lenders relaxing qualifications to get a mortgage.’
Although some certainty appears to have returned, house hunters still lack confidence. The number of people searching for homes dropped in July with an average of 192 on agents’ books compared to 226 the previous month.
For more property news go to Country Life.
<a target="_blank"href="http://www.countrylife.co.uk">Country Life</a>, 20 August 2008
