The good news keeps coming

Warren Jones Residential Sales Manager Wrights of Welwyn Garden City

Have you seen the latest Nationwide and Halifax house price index? Yet more proof positive that the house market is alive and kicking. No one is trying to kid anyone that two isolated statistics provide conclusive evidence that the recession in the property market is over, however this is the third consecutive monthly increase and the fifth so far in 2009 and if you add in the following:

  • The gap between asking price and the selling price is narrowing (Source RICS – The Royal Institution of Chartered Surveyors)
  • For the seventh month in a row there are has been an increase in new buyer enquiries (Source: RICS)
  • The percentage of unsold properties has fallen by 35% over the last 12 months (Source: RICS)
  • The amount of new stock (properties for sale) coming to the market is falling (Source: RICS)
  • For the forth straight month the number of mortgage approvals has risen (Source: Bank of England)
  • The time taken for properties to find a buyer is shortening (Source: Right move)

..then what ever your thoughts on the economy in general, it is hard to argue with these facts. As I see it a significant factor is that confidence in the market is returning – most certainly amongst buyers and that should give increased hope to home sellers.

Warren Jones
Residential Sales Manager Wrights of Welwyn Garden City

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