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Demand for housing surges to 8-month high

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  • 20/04/2011
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Demand for housing surges to 8-month high
The number of property enquiries rose sharply in March to its highest level in eight months, according to the National Association of Estate Agents (NAEA).

Its members reported that the average number of house hunters registering with an agent jumped from 268 in February to 290 in March, ahead of the Easter rush and up on 274 for the same period last year.

However, the NAEA noted that significant regional variations remain across the UK.

Meanwhile, the number of properties for sale fell slightly from 70 per branch to 68 in March, while sales remained stable at eight per branch.

First-time buyers made up 23% of sales in March, slightly down on 25% the previous month, but in line with the year-on-year average, the NAEA said.

Michael Jones, president of the NAEA, said: “The significant growth in demand for homes reported by our agents suggests that house-hunters are searching for a good deal on property before the traditional spike in activity over the Easter holidays.”

However, he added: “The picture is still very varied across the country and significant economic barriers remain.

“Although the Chancellor’s Budget last month did grant some concessions to first-time buyers, it didn’t go far enough to assist the wider property market. Rather than new build projects to help people onto the housing ladder, the government should instead be looking at ways to maximise mortgage availability.”

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