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Sunday 18th of April 2010
April 16, 2010    

Housing market recover “well underway”

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by Gill Montia

The UK property market experienced a seasonal bounce last month, with estate agents reporting more properties for sale alongside a rise in the number of house-hunters.

According to the National Association of Estate agents (NAEA), the stock of homes for sale in March was at its highest for six months, and although first-time buyer interest waned slight when compared with February, the numbers held stead on a year earlier.

The Association’s survey of members revealed that the number of house-hunters registered per branch increased from 258 in February to 274 in March, while the average number of properties available for sale rose from 56 to 60.

Following the trend, the typical number of sales agreed per branch increased to eight last month, up from seven in February.

NAEA President, Gary Smith, comments: “Spring has finally arrived and brought with it a much needed boost to the housing market, particularly amongst sellers.”

He adds: “This figure has been low in recent months and this is a welcome indication that reflects a growing confidence that the recovery is well underway.”

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