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Newsletter

House sales 'rose in February'

By Jonathan Dawes, Tue 16 Mar 2010 - Published in Mortgages

House hunters braved the winter conditions seen across the UK last month to find a new home, new figures show.

The National Association of Estate Agent's (NAEA's) market report for February revealed that the average number of homes sold per agent rose from 5.7 in January to 6.8.

In addition, the increase occurred despite the number of house hunters registering with an agent falling from 291 in January to 258.

The report also showed that the percentage of sales made to first-time buyers rose from 23 per cent in January to 24 per cent in February.

Gary Smith, president of the NAEA, said: "It's encouraging to see that the bad weather hasn't deterred agents from making sales this month even if it has stopped some house hunters from registering with an agent."

He added that the government should make house building a priority in its forthcoming Budget, in order to address the supply and demand problems in the market.

PricedOut.org.uk spokesperson Katy John recently claimed that house prices need to fall further to help first-time buyers get onto the property ladder.