UK housing market sees 'post-Budget bounce' say estate agents
UK housing market sees 'post-Budget bounce' according to report from estate agents
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By Matt Hallam. |  |
Wednesday, 12, May 2010 12:04
By Sarah Garrod.
Estate agents have said today that the UK housing market saw a post-Budget bounce in April.
The National Association of Estate Agents (NAEA) said they welcomed a Conservative/Liberal Democrat coalition, as both included the abolition of Home Information Packs (Hips) in their manifestos; a move the NAEA says could boost housing supply.
According to today's monthly housing market survey from the group, the number of house-hunters registered in its members' branches increased from 274 in March to 278 in April. The number of sales agreed per branch stayed largely the same as in March with an average of eight in April, while the average number of properties available for sale per branch increased from 60 in March to 62 in April.
However, despite the raising of the stamp duty threshold in the Budget, the NAEA said the percentage of first time buyers (FTBs) decreased slightly from 23 in March to 21 in April.
President of the NAEA, Gary Smith, said: "A major housing trend over the past six months has continued to be the relatively low numbers of sellers coming to market.
"For three months, however, the number of sellers has increased steadily. At the same time demand has stayed strong, as have the number of sales being agreed.
"The level of first time buyers has dropped slightly, and the NAEA will push hard for more measures to help this group from the new government."
"It is good to note that any potential Conservative/Lib Dem pact will be able to agree on one thing at least, as both included the abolishment of Home Information Packs in their manifestos," he added.