Sale levels see 20% rise in January

24 February 2006
More properties were sold last month than had been for the past five months, according to new research.

The newest housing market survey from the National Association of Estate Agents (NAEA) reveals that confidence in the housing market is returning and that people are making more purchases.

Both the number of house buyers and the numbers on estate agents' books rose in January, while the number of available properties decreased and demand outweighed supply.

The number of sales agreed rose by 20 per cent in January – increasing from eight sales per agent to ten.

These positive figures were similar to the levels reached in January 2005.

Christopher Hall, president of the NAEA, said: "Confidence is key to a buoyant market – we are delighted to see more buyers month on month committing to a purchase and feel the new year has inspired increasing levels of confidence.

"Buyer optimism combined with seller realism has led to encouraging sale levels. Assuming interest rates and employment levels remain the same for the time being, we can expect a continuation of this positive trend."

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