Estate agents say home sales stable in April
Wednesday, 25 May 2011 3:45 PM
Three bank holiday weekends in April failed to put off hopeful property buyers, according to the latest housing survey by the National Association of Estate Agents (NAEA).
The average agent sold eight properties per branch in the month - the same as in March and February - despite the distractions of Easter and the Royal Wedding.
The number of house hunters registering to look for property fell slightly from an average of 290 in March to 277 in April but this was still in line with year-on-year figures.
The proportion of sales made to first-time buyers fell slightly from 23 per cent in March to 21 per cent in April.
The supply of homes coming on to the market held up well, with agents reporting 69 properties per branch, up significantly on 62 in April 2010.
However, separate figures from the British Bankers Association (BBA) suggested that the mortgage market was dented by the long weekends in April. Loans for house purchases were down 6 per cent and remortgages down 12 per cent on March.
President of the NAEA, Michael Jones, said: "Although regional variations do remain, this latest report indicates that the housing market is showing some overall resilience to economic pressures.
"It is, however, disappointing to see the market share for first time buyer's decrease for a second month in a row. Although in-line with figures from this time last year, the Chancellor's Budget, which made special concessions for this group has had little effect so far."
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