Confidence ‘returning’ to housing market

Confidence is beginning to return to the housing market, leading to an upturn in sales, a new report has indicated.

Figures from the National Association of Estate Agents (NAEA) for April revealed that members managed to sell more properties than in any month since October 2007.

On average, agents sold ten homes in the month, an improvement on March’s typical level of eight per member.

“These figures show that this confidence is returning,” commented NAEA chief executive Peter Bolton King.

He stated: “What we are beginning to see now are consistent positive indicators that have held firm or improved since the beginning of the year.”

Mr Bolton King claimed that there has always been demand for property, but that this had been impacted by falling confidence in the wake of the credit crunch.

In related news, Royal Institution of Chartered Surveyors chief economist Simon Rubinsohn recently forecast that house prices will stabilise later in 2009.

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