Spring bounce in housing market is good news for tenants too! Call us today on 02476 458585
Forever researching into the local letting trends, Belvoir Lettings in Coventry knows all too well, the many and varying factors that contribute to the availability of rental properties.
Strong and positive figures released this week from NAEA suggest that we should expect a spring bounce in available properties because of the current strength in house sales.
The number of people trying to buy or sell homes has picked up in the past month, according to estate agents.
The number of potential sellers rose in March to its highest level for six months, the National Association of Estate Agents (NAEA) said.
In addition, the number of prospective buyers went up by 7% last month.
The NAEA said spring had brought its usual increase in activity, and suggested sales would improve in the coming months.
“Spring has finally arrived and brought with it a much needed boost to the housing market, particularly among sellers,” said Gary Smith of the NAEA.
“This figure has been low in recent months and this is a welcome indication that reflects a growing confidence that the recovery is well underway.”
Encouraging signs
Earlier this week, a survey by the Royal Institution of Chartered Surveyors (Rics), some of whose members also work as estate agents, reported that the number of people trying to sell their homes last month had reached its highest level since May 2007.
With the bad weather now behind us buyers and sellers alike are returning to the market with a renewed vigour
National Association of Estate Agents
According to the NAEA’s survey, the average number of homes for sale at each of its member’s branches rose from 56 in February to 60 in March.
At the same time, the number of house hunters registered with each branch went up by 7% last month, to 274 per branch.
Sales have also risen, the NAEA said, from an average of 6.8 per branch in February to eight last month.
The NAEA said all this was encouraging, especially with more sellers around.
“This month’s figures reveal an increase in the levels of housing stock with more properties available for sale per branch – the highest value recorded over the last six months,” the NAEA said.
“More house-hunters also registered their interest. With the bad weather now behind us buyers and sellers alike are returning to the market with a renewed vigour,” it added.
If you are a property owner looking to invest in your next rental properties please do not hesitate to contact us at Belvoir Lettings Coventry for advice on the potential letting yields and particularly strong properties and their desirability.
