09/12/2010 - House-hunters return to market
House hunters have increased for the first time in four months, according to new figures.
The National Association of Estate Agents (NAEA) said a fall in house prices had lured potential buyers back on to their books.
The average estate agent had 241 house-hunters registered with them in November, up from 218 the previous month, the group said.
But the rise in demand was not matched by an increase in sellers, with the number of people putting their home up for sale dropping for the second consecutive month, leaving the average branch with 64 properties.
The dip in sellers is not unusual for the time of year, as people traditionally put off selling their home until after the festive season, as they do not want to disrupt their family over Christmas.
The NAEA said many homeowners also continued to have unrealistic expectations about the value of their property, and were likely to be holding off selling in the hope that prices will rise again next year.
The fall in sellers is good news for the property market, as it will help to correct some of the mismatch between supply and demand, which has been caused by buyers postponing decisions to move, while homeowners had continued to come to the market.
Copyright © Press Association 2010
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