Market Update 26/1/2011

Camden Crescent
Camden Crescent, Bath

 

THE UK housing market saw a surge in the level of enquiries, both for buyers and sellers, in the first two weeks of January according to a poll of almost 700 estate agents conducted by the National Association of Estate Agents (NAEA).

 

Almost two thirds (59 per cent) of those surveyed said that the number of house hunters registering with them during the first two weeks of January was higher than they would normally expect for this time of year.   Similarly, the level of enquiries from potential sellers went up with 45 per cent of NAEA members reporting an increase over the same period.

 

NAEA President Mike Jones said: “The results of this latest survey would seem to indicate a renewed confidence in the housing market as we begin 2011. It is encouraging to see that the majority of our agents are noting an upturn on both the buyer and seller sides and those that didn’t are still reporting steady figures consistent with January of last year. The market appears to have experienced a jump start to 2011. We are hopeful that this strong start to the year will continue into February.”

 

Rightmove’s January House Price Index key points are;

 

  • Scarce new sellers raise their asking prices 0.3% (£711), the first rise for three months.
  • Property is coming to the market at its lowest level since January 2009.
  • Forecast of spring stock shortages to underpin prices in popular locations, as new seller numbers dwindle and record internet search activity indicates stirring buyer interest.

 

Madison Oakley have also had an excellent start to the New Year, finding buyers in January for 20% of our vendors.