Thursday, March 17, 2011
Category:
Home Improvements
According to the National Association of Estate Agents (NAEA), there was a rise in the number of people putting their house up for sale on the UK housing market in February.
In fact, when it comes to the level of ‘available housing stock’, the NAEA’s market report for February shows a year-on-year increase of 25 percent.
Furthermore, findings have shown that the number of nationwide property seekers to have registered with an estate agent increased from 252 per branch in January to 268 in February. This is reportedly the highest level for seven months.
In February, month on month sales were also found to have increased across the property market – rising from an average of six per branch to eight. A modest increase, from 24 percent in January to 25 percent in February, in the number of sales made to first time buyers was also reported.
Michael Jones, NAEA President, commented: "To see such a significant boost in activity amongst sellers compared with this time last year is encouraging news for the UK property market. The signs are that they are being more realistic about the price they can expect to achieve when they put their house on the market. This means that, on the whole, supply can meet demand levels, meaning a more stable market, for the short term at least.
"However, the picture is still very variable across the UK with agents reporting much higher growth in enquiries and stock availability in some regions than others. Undoubtedly, broader economic constraints on spending continue to impact on consumer confidence, especially at a First Time Buyer level, and the effect of the public sector cuts has yet to be fully felt. With limited mortgage availability and the concern about a likely rise in interest rates still putting off many of the people who otherwise would be looking to buy, it is important that the government does everything it can to encourage growth at this crucial stage of the recovery process."
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Homeowners who have recently moved into a new property and who are looking to fund
home improvements, could consider taking out a secured loan. One of many finance options available, a secured loan for home improvements could enable borrowers to embark upon an array of projects in and around their home. For example, borrowers could put their personal stamp on their property by way of redecoration and refurbishment. What’s more, homeowners with a garden may wish to have this outdoor area landscaped in readiness for the forthcoming summer months.
