Number of properties sold 'on the rise' says NAEA

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Number of properties sold 'on the rise' says NAEA

Mon 18th May 2009

According to data from the National Association of Estate Agents (NAEA), British property sales are on the increase, despite the economic downturn.

The organisation found that estate agents sold an average of ten properties in April this year, compared to eight in March and five in August 2008.

This suggests that "confidence is returning" among British property buyers and investors and may show positive signs for the future recovery of the market, according to the NAEA's chief executive Peter Bolton King.

He added that though people have assumed over the last year that "British people's attitude to owning property had changed in the recession", these figures show this to be incorrect.

"The NAEA always said that this was nonsense and that demand for property remained strong, but confidence in the market had gone," Mr Bolton King explained.

Further good news for the property market was delivered last week, as the Co-operative Bank revealed that the number of repossessions it oversaw within the last six months has fallen by 50 per cent.

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