The National Association of Estate Agents have reported that the UK housing market fared far better than expected during the summer months. August is a notoriously quiet time for the property market, however there was a definite increase in both the level of demand for property and the number of transactions completed.
The number of people looking for a property also reached a four year high. In July it was recorded that 299 people registered with an agent increasing to 304 in August. On average during August agents sold eight properties compared with the seven in July and a year ago.
Further positive news show that the number of properties remaining unsold on Estate Agent’s books dropped from 70 to 65.
Wendy Evans-Scott president for the NAEA commented "Although supply levels dropped slightly, the number of sales made held strong, suggesting that those sellers that have remained in the market are pricing their homes sensibly," she added.
"The increase in the number of family homes sold demonstrates that it is those that have to move because they need more space that are in the market.
"Accordingly, there are fewer speculative sellers out there, who inflate prices and are not committed to a sale."
More welcome news that the property market can and will recover.