Houses For Sale Are In High Demand

It has been reported that demand is outstripping supply across the UK housing market, with estate agents registering four house hunters to every available property. In a monthly market survey of the National Association of Estate Agents found that the average branch had 299 house hunters on its books in May 2009 – up from 265 the previous month and 247 in May 2008. The average branch had 69 properties on its books. Also for the second month running it was reported that estate agents had a successful selling period.

The survey indicated that the average branch sold 10 around properties, a 30 per cent increase on the same time last year and double that sold on average in August 2008. Gary Smith, President of the NAEA, was quoted as saying: “This is really good news for the housing market and the UK economy in general. " He concluded “NAEA members are showing that there are buyers a-plenty out there. More often than not these are also potential sellers who are at the beginning of the process – so there is bound to be a lag which creates a shortage of properties in the short term.

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