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Housing market buyer interest stagnates

Tuesday 19th May 2009

Buyer interest in the housing market has stagnated – with the average estate agent noting a fall in enquiries from 268 in March to 265 in April.

However, the number of sales agreed per agent has increased from an average of eight in March to ten last month, according to new research.

In its Housing Market Survey for 2009, the National Association of Estate Agents showed that the number of properties for sale increased and the number of first-time buyers entering the market remained strong.

The NAEA said that the slight fall in buyer interest should be taken in the context of a 12 per cent increase during the previous month.

Meanwhile, the Organisation for Economic Cooperation and Development said that while UK output was still shrinking the recession could be over as soon as August.

The news would counter gloomy forecasts from the International Monetary Fund, which predicted Britain would be worst affected by the global economic slowdown.

This could be good news for the property sector – at least in terms of value - as investors start circling again.

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