The National Association of Estate Agents has just announced that property sales have hit an 18-month high – but what does it mean for the Kent property market? Susi Wigham, area sales director for Your Move, explains:

Most of us have seen house prices tumble this year yet latest figures from the Nationwide show that they have, in fact, increased nationally by 1.2 per cent in May after a 0.4 per cent drop in April. Added to this there now appears to be greater consumer confidence generally.

But, what does that mean to the average local seller or buyer?

Locally there’s definitely been a general reluctance from sellers to put their homes on the market because they think their house is worth more than they could sell it for in the current market. Some have believed that house prices would increase and that it was just a waiting game.

At Your Move, however, we still think there is some time to go until prices start to rise significantly again and in the meantime it’s an ideal opportunity to take advantage of the growing number of buyers now entering the market.

We’re certainly seeing more buyers yet actual homes on the market have grown by less than 2.5 per cent so clearly there is demand there and provided the price is right – and realistic in this market – and the property is marketed well there’s no reason why a house should not sell within a reasonable timescale. And remember, as a seller, it’s highly likely that the property you want to go on to buy will be cheaper now too – so it’s all relative.

We also feel local buyers are more hopeful about the market. In a UK survey conducted by Rightmove in April, 71 per cent were becoming more optimistic about the market with 5.5 per cent more feeling that now is a good time to buy than at the beginning of the year.

Although funding has been a major hindrance there are also some encouraging signs here too particularly for those who have a house to sell or those with high deposits. In fact mortgage costs for them are at their lowest for more than five years.

With ongoing low interest rates it also means that first-time buyers with larger deposits – perhaps those who have the support of relatives or who are clubbing together with friends to raise a deposit – are seeing their average monthly interest payment equate to 1.5 per cent of their income. That’s the lowest rate since June 2004.

If you’d like to find out how YourMove can help simply call into your local office or go to www.your-move.co.uk