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Agents' confidence remains buoyant

Monday, 3 March 2008 12:00 AM

Estate agents in the UK continued to demonstrate strong faith in the future direction the property market during February, according to new research from HotProperty.co.uk.

According to the organisations Agents' Confidence Index - which monitors agents' confidence levels in relation to the previous month - some 73 per cent of estate agents were more confident during February than during January.

This is represents a one per cent increase on the figure of 72 per cent recorded in January.

"This month's index shows agents' confidence in the market is stable, having risen from 72 percent in January to 73 percent in February," said HotProperty managing director, Shawn Luetchens.

"It goes to show the massive leap in confidence last month wasn't just a reaction to the January market, which is traditionally a busy period."

However, in contrast, the HotProperty research finds consumers may be delaying their purchases in response to future uncertainty over the direction of the market.

According to the research, some 56 per cent of buyers have delayed their purchase in light of the current market conditions.

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