First Time Buyers on the increase

The first time buyer share of the market was at its highest for 12 months, increasing significantly to 12.5% in May from 7.9% in April, according to the National Association of Estate Agents.

Sales and housing stock were up in May as was the number of people looking to buy. The time taken to sell a home has dropped significantly from the same period last year and the first time buyer share of the market is at the highest seen over the past 12 months.

Sales improved after the slight dip endured over the Easter period. Having increased by 15% in May, agents reported an average of 15 property sales per agent compared to just 13 in April. This increase in sales is particularly inspiring as it is the highest reported since March 2004 proving the stability of the housing market.

Housing stock continues to be replenished

The number of properties on estate agents books continued to replenish in May. Housing stock has been in short supply over the past few months decreasing steadily in the first quarter of 2006. A slight increase was seen in April and this has been further built upon in May increasing by 6.5% from an average of 62 per agent to 66.

This is however still down on the same period in 2005 where the average per agent in May was 81, hopefully the upward trend will continue, said the estate agents body.

NAEA members reported an average of 378 buyers on their books in May in comparison to just 68 properties for sale. Although demand continues to significa

Author: Alex Higgins

The first time buyer share of the market was at its highest for 12 months, increasing significantly to 12.5% in May from 7.9% in April, according to the National Association of Estate Agents.

Published on 19/6/2006.

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