Confidence returning to housing market

Thu, 28 Jul 2011

Mortgage customers may be glad to know that optimism is returning to the British housing market.

Mouseprice claimed that people are feeling more positive and homeowners are taking a more upbeat outlook on things.

Recent National Association of Estate Agents (NAEA) figures show that the average number of properties for sale per branch in June was 74.

This is up markedly from the 68 noted in May and the highest the number has been since April 2009.

Mouseprice director Selwyn Lim explained that there is still work to be done to complete the recovery.

"Confidence is returning to the market and is improving, but we are still a long way away from the heady heights of 2007," he said.

The expert noted that there has not been a lot to shout about in the housing market over the past 24 months and an increase in supply was always expected at some point.

"One plausible reason why the number of listings for sale in estate agents' windows could be increasing is simply because things are taking much longer to sell now," Mr Lim added.

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