Properties registered for sale more than double

Posted: 02 Mar 2007 10:51:26 GMT

The number of properties reaching the market more than doubled during the first month of 2007, estate agents have said

The number of properties reaching the market more than doubled during the first month of 2007, estate agents have said.

Figures collected by the estate agent network Team Association showed that the number of homes registered for sale increased 215 per cent in January.

The increase is the biggest one-month climb for four months. The average sale fell from £220,596 to £218,122 over the month.

As well as the historical seasonal increase following December, Team Association said that the rush could be due to the imminent launch of home information packs (Hips).

"With Hips kicking into action over the next few months and the slow festive period now over we have already seen a dramatic increase in property supply and are confident this will continue into spring," said Alan Kirkman of Team.

"However, it should be noted that many of our members are consistently selling more properties than they are taking on.

"With the property supply and demand balance still at present lopsided, sellers could well benefit from entering the market at this time."

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