Recently, the National association of Estate Agents detailed that whilst the market remains severely depressed, there are under the surface the first indications of the beginning of an adjustment in fortunes. They base their guarded optimism on statistics supplied to them by their affiliates across the country.

These statistics imply that the number of potential buyers registering with estate agents grew over the month. In addition, the costs of all forms of property showed a slim but definite rise. There was also a rise in the amount of first time buyers. They made up 10.8per cent of all property purchases throughout December.

Obviously, this news is merely a solitary bright spot in an span of miserable news that we’ve all had to bear for the last fifteen months. However, the really good news is that it’s now been coupled by the recent message by the Halifax Bank (the UK’s biggest Home mortgage lender) that they believe there was a growth of 1.9 per cent in property prices in January. This news should however be tempered by the message from the Nationwide Building Society, another big source of Mortgages to British Home Buyers. The Nationwide maintains that there was in fact a drop of approximately 1.3 per cent in property prices during the month.

Obviously, compared to where we were just over a year ago, it seems like really clutching at straws to take comfort from such a mixture of information, but after more than a year of an uninterrupted stream of negative statistics, even this mixture of conflicting messages suggests a very positive reversal in trends.

There are a few grounds for optimism: initially, remote islands of positive news are beginning to pop up. This may be the beginning of a trend where we notice slowly growing spots of positive news appearing and extending, until they eventually join up into a uninterrupted stream of positive news. Secondly, it’s acknowledged that there are more potential Home Buyers coming into the market. In fact, according to the National Association of Estate Agents, the general Estate Agent had 200 potential Home Buyers registered with them throughout December. That’s an increase from 186 in November.

Obviously, all these statistics are distant theory to most of us. What we want to know is what will happen if I want to Sell My House? Are there enough Home Buyers out there to keep the market in balance? Because that’s all that matters if I want to find someone to Buy My House for a realistic price.

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This entry was posted on Friday, February 20th, 2009 at 2:15 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.