Tuesday, 14 July 2009

Estate Agents Report Sales Remain High

As reported this week by the National Association Of Estate Agents, the average agent continued to make strong sales in the property market, despite having fewer properties available for sale resulting in slightly fewer people searching for a new home than in May. Agents also reported that buyers are increasingly prepared to pay what a seller asks for a property – after the difference between the asking prices and selling prices shrank to just 1.9 per cent – down from a 6.3 per cent difference in May.

The average estate agent had 290 house hunters registered in June, down from 299 in May. They had 64 properties for sale, down from 69 in May and a high of 100 in December 2008. However agents continued to make sales, with the average professional agent selling 10 homes in June for the third month in a row, double the amount sold during the worst of the market downturn in August 2008.

Last week an independent survey commissioned by the NAEA found that almost a quarter of people – 22.5 per cent – are unable to find a mortgage that they qualify for anywhere in the market. And 56 per cent of those polled believed that a combination of relaxed restrictions and lower deposit requirements would increase the chance of them buying a property.

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