Estate agents see signs of house market recovery

NAEA President Gary Smith said: "Since the beginning of the year NAEA members have seen a significant increase in demand. There are clearly plenty of buyers out there.

"Last month the NAEA registered an average of four buyers for every available property.

"However the vast majority of these buyers also become sellers and these up-to-date figures show that as these buyers decide on a property the supply of housing will increase.

"It is another positive indication that the UK housing market is over the worst and the NAEA calls on the Government to further badger banks and building societies to respond to the opportunity to pull the situation around."

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2 thoughts on “Estate agents see signs of house market recovery

  1. smell the coffee

    OK, we all know Estate Agents are prone to a bit of ‘exaggeration’ but really, this is taking ‘telling porkies’ beyond the limit.

    Simply consider the numbers. The Council of Mortgage Lenders tells us approvals are running about 30-40,000 a month. Meaning the average Estate agent is running about 3 sales a month. There being approx. 13,000 EAs countrywide. Not forgetting the higher turnover companies like Foxtons are not members of NAEA (Or any professional body) and don’t contribute to this index.
    Many rural/small market agents are likely to see 3 sales a month as optimistic, meaning these figures are simply the imaginary sales dreamed up by bored agents, who simply can’t help themselves from ‘talking up’ the market.

  2. Trevor Mealham (The Independent Network of Estate Agents)

    Agents have seen a slow increase in sales. there is a shortage of properties and agents are seeing an increase of commissions being cut. New registration of agents is soon to be introduced as to Money laundering in addition to what already stands. Lenders are still not lending enough and it is thought that in 10-12 weeks the market will again slump and prices drop. Winter could be a very cold time in the housing market with further agents going down. It is thought that 1-2,000 more agents offices may close from now to February/March. We need this silly government to look closer at the sales process and look after the few professional agents who are battling for clients stupid legislation and harsh lending. You can’t fight fire with a water pistol especially when government keeps pouring on the petrol.

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