Enquiry levels reach four year high

DEMAND for UK property increased for a second consecutive month in September, reaching levels not seen in over four years, according to estate agents.

The NAEA housing report for September showed an increase in the number of people registering to look for homes.

The figure rose from 304 in August to 308 in September as an average per branch – the highest level since September 2007 (326).

The number of houses available for sale also increased from 65 per branch to 72 across August and September while the number of sales remained the same with eight per branch.

Other figures showed the percentage of sales to First Time Buyers (FTB) increased, moving from 20 per cent in August to 22 per cent in September, however regional variations still remain.

Wendy Evans-Scott, President of the NAEA said: “It is encouraging to see that the number of enquiries is increasing, but sellers need to be very realistic when pricing their property in order to secure a sale in what is still a very cautious market.

The number of sales remained consistent with figures recorded in August with an average of 8 made per branch. As with enquiry levels, house sales remain slightly above average when compared with data recorded in 2010 .

Despite wider economic concerns in the European financial markets, this data indicates that UK sellers believe they will be able to secure a sale for their property, if reasonably priced.