Return of the serious house hunter
Sales remain strong indicating housing market confidence
The number of sales agreed during the month of March remained strong, despite fewer house hunters registering, according to estate agents.
The latest figures from the National Association of Estate Agents’ (NAEA) housing market report revealed that although the number of house hunters dropped slightly to an average of 286 in March compared with 289 in February, house sales remained steady month-on-month, at an average of 8 per branch.
This puts the ratio of house hunters purchasing homes at levels not seen since the summer of 2011, with one home being sold for every 39 house hunters in Q1 2013, improving from one every 43 this time last year (Q1 2012).
These promising figures show steady confidence in the housing market in the first quarter of this year, and a return of the serious house hunter. However, there is some concern that the percentage of overall sales to first time buyers (FTBs) dropped once again in March suggesting that this group are still not gaining access to the mortgage finance they need, despite a raft of recently announced Government measures.