UK Property Sales Reach 18-Month High

The National Association of Real Estate Agents reports that more homes were sold in April, 2009 than in the previous 18 months. The average agent sold ten properties in April, up from eight in March and well above the low of five, which came in August, 2008.

 

The increase in sales is a positive indicator that the bottom may have been reached in the real estate market, according to several analysts. Property firm Jones Lang LaSalle is confident that property in the UK has hit bottom and is headed for a gradual recovery. Peter Bolton King, Chief Executive of the National Association of Real Estate Agents said “What we are beginning to see now are consistent positive indicators that have held firm or improved since the beginning of the year.”

 

The NAEA’s Housing Market Survey indicated that the number of first-time home buyers was at 23 percent, the same level as in March. Bolton King also was cheered by that fact, as he believes that first time buyers are taking advantage of low prices and great deals.

 

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