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Property market strengthening - Financial news from Quotesure - 23/03/2006


New data says Britain's housing market is going up sharply
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Property market strengthening

Britain's housing market is taking a sharp upward turn, helped by conditions of economic growth and low unemployment, according to new data released this week.

Figures from the National Association of Estate Agents (NAEA) show that sales soared 30 per cent in February, while the gap between asking and selling price fell to 3.5 per cent.

Additionally, the average time taken to sell a property dropped from 18 to 17 weeks while the number of viewings needed to achieve a sale stayed steady at 12.

'This is a sure sign that although we are operating in a smaller environment, there is no doubt that the housing market is going from strength to strength,' said NAEA president, Christopher Hall.

The outlook is good for not only a busy Easter holiday period but 2006 as a whole,' he added.

However, the number of first time buyers has fallen and with yesterday's Budget not bringing much relief on the level of stamp duty paid on property purchase, there is no imminent respite.

Buyers wanting to increase their options in an increasingly expensive property market can check out the best UK mortgage deals online.

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