The property market is getting busier. That’s the verdict from the National Association of Estate Agents (NAEA), whose members have reported an increase in both supply and demand.

Figures for February show that the number of properties coming onto the market grew by a quarter in the year to February, with the average estate agent’s branch now having 70 properties on its books as against 56 a year ago. At the same time, there are more enquiries from buyers, with larger numbers registering an interest in buying a property.

NAEA president Michael Jones called the boost in activity among sellers “encouraging news for the UK property market.”

The busier market in February was reflected in a rise in sales. The NAEA put the increase down to the more realistic attitude being taken by owners about what price they could expect to achieve in today’s conditions.

The match-up between the availability of property and renewed interest from buyers should keep the market stable in the short term. But, as ever, the upbeat assessment comes with a note or two of caution. Behind the national picture lie wide local variations. And a question mark continues to hang over the market, with the possibility that rate rises and spending cuts could hit confidence.

In the meantime, there are opportunities for those entering the market to take advantage of some competitive mortgage deals – and a wider choice of properties. Similarly, homeowners can consider remortgaging at rates which remain very low by historic standards, perhaps to utilise equity built up over a number of years.

Tags: Economy, GoRemortgage, Housing Market

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