Market activity 'up again'

The housing market picked up again in August on the back of more buyers and sellers coming to market, the National Association of Estate Agents (NAEA) has said.

The NAEA has reported that the increase in the number of properties on estate agents' books was typical for the late summer months, and was also accompanied by an increase in the number of sales made per agent and the number of registered buyers.

However, the figures are still down when taken as yearly-averages, and the introduction of Home information packs (Hips) also appears to have slowed the market.

The number of four bedroom homes fell by 37 per cent as a result of the packs' introduction, the study added.

"Over the last forty years I have seen many peaks and troughs in the market and at this present time I cannot see any troughs on the horizon," commented NAEA president Stewart Lilly.

"However, the recent introduction of the second phase of Hips is likely to cause more disruption and in particular prompt a 'wait and see' strategy from individuals who are unsure about the full impact of the legislation," Mr Lilly added.

Hips were introduced for properties with three bedrooms on September 10th.


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