Optimistic outlook for the housing market

Posted: 22 Feb 2008 11:58:38 GMT

There is a new sense of optimism in the UK housing market, according to the National Association of Estate Agents (NAEA).

There is a new sense of optimism in the UK housing market, according to the National Association of Estate Agents (NAEA).

The organisation has published its housing market survey for January, revealing that sales, buyers and housing stock all rose in the month.

Preliminary figures were released earlier in the month, suggesting that this would be the case, and the full report has confirmed a positive start to 2008.

According to the report, housing stock increased from an average of 76 properties per agency in December to 83 properties per agency last month.

Buyer numbers were also up, with the NAEA reporting an average of 276 registered buyers per agent in January, compared to just 248 in December.

Sales also rose per agent, from five in December to eight in January.

"It is very encouraging to see the New Year start optimistically as buyers and sellers make a welcome return back to the market," said Stewart Lilly, NAEA president.

"The past couple of interest rate cuts have seemed to taken effect on boosting consumer confidence and the market has started to stabilise and see a renewed sense of optimism set in.

"What's more, first-time buyers have increased their share once again, indicating better times ahead for this sector of the market," he continued.

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