X-Press Legal Services
Signs of Life for Housing Market
The UK’s residential property market showed signs of life in October.
According to estate agency boards firm Agency Express, the number of properties converting from For Sale to Sold bounced up 7.5% on September. The number of new For Sale boards erected inched up by 0.8%.
Seven out of 12 regions were positive in terms of increases in Sold boards, although Scotland, Wales and the North-East all saw dips in activity.
Stephen Watson, managing director of Agency Express, said: “In recent weeks the UK property market has been drowning in negative publicity and market speculation.
“Our October Index is evidence that the current ingredients of low interest rates and the low supply of well presented, realistically priced properties, can be a real recipe for success.
“Whilst I believe the UK property market still has stiff challenges ahead in 2011 and 2012, these figures reveal some encouraging signs for many regions and cities across the UK and should go some way to installing a little more consumer confidence in the housing market.”
