Confidence Regained In The Property Market

Online, April 11, 2013 (Newswire.com) - Regional month on month data recorded by the Property Activity Index shows a flourishing property market in the South West with an increase on properties sold by 26.9% and an increase of properties coming on to the market by 19.3%, all in all a positive month for the region recording their best figures for March since 2009.

Further increases have been recorded for North West; The Property Activity Index reports steady growth over the last 3 months for both properties sold and properties coming on to the market. The region has shown resilience to the down turns in the property market, returning consistent figures for the months of January to March over the last 3 years. Whereas Central England reported declines in properties coming on to the market by down by 1.6% but showing resilience on properties sold up by 8.8%.

The North East housing market has experienced an encouraging start to the year and continues to maintain its pace. The region saw the average house price rise in February from £136,969 to £142,168 which may be reflective of the 37.2% increase on properties coming on to the market and 30.6% on properties sold.

Agency Express Comments

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:

The encouraging figures from this month's Property Activity Index are reflective of the continued change in attitude and direction from financial institutions. The measures that have been taken to open up the property market to a wider range of buyers has been one of the most positive events to occur within the market for the last 5 years. Next month sees the first stage of the Government's 'Help to Buy' scheme being made available to those buying new-build properties in England, which will undoubtedly continue growth, however the renting population still remain trapped with 75% saying that deposits are still out of reach. Expectations for the 2013 property market remain hopeful and with the figures reported to date by the Property Activity Index it seems that we have every reason to be.