Surge in property activity
Published: 14:27, 17 March 2011
Kent estate agents are reporting a sudden surge in activity thanks to a welcome leap in the number of people putting their houses up for sale.
After a period of finding there were too few houses up for sale to meet demand, Robinson, Michael & Jackson offices in North Kent and Medway said January and February saw a jump in the number of houses being put up for sale.
The agent now has seven per cent more homes on sale than at this time last year.
The trend is backed by the National Association of Estate Agents, whose latest market report shows a year-on-year rise of 25 per cent in the level of available housing stock in February.
The number of house hunters registering with an agent across the country also rose to 268 in February compared with 252 in January per branch - the highest level for seven months.
Sales increased across the property market in February, growing from an average of six to eight per branch month on month, despite continuing consumer concern regarding interest rate rises.
NAEA President Michael Jones said: "To see such a significant boost in activity amongst sellers compared with this time last year is encouraging news for the UK property market.
"The signs are that they are being more realistic about the price they can expect to achieve when they put their house on the market. This means that, on the whole, supply can meet demand levels, meaning a more stable market, for the short term at least."
Michael Utchanah of Robinson, Michael & Jackson in North Kent and Medway said: "We are enjoying the same positive sentiment as reported by the NAEA.
"We too are seeing an upsurge of sellers entering the property market, with seven per cent more property for sale being listed across our branches during January and February than during the same period last year.
"It's encouraging for everyone that more property is coming through, as we have twice as many applicants looking for a property to buy than sellers at the moment.
"Prospective sellers can expect a good flow of viewings as soon as their property goes on the market. In addition, the upcoming bank holidays present a real window of opportunity for anyone thinking of selling their home."
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Ray Edwards