UK property market 'moving in right direction'

Friday, April 16th 2010

The property market is thought to be "moving in the right direction", according to the latest report from the National Association of Estate agents (NAEA).

In the Housing Market Report for last month, the organisation noted an increase in the number of house-hunters each branch had registered, which rose from 258 in February to 274 last month.

And this month the new regulations on stamp duty will come into force, which is also thought to affect the market and encourage it to continue improving.

In March there were eight sales agreed on average per branch, which was a rise from 6.8 noted in February.

However, there was a slight drop in first-time buyers compared to the previous month, the NAEA survey revealed.

The association, which was founded in 1962, has 10,000 members in the UK and overseas.

It aims to guide and help those in the property industry as well as consumers.