Home buyers and sales agreed continue to increase in February 2009
Monday 16 March 2009
A Home Sale Network survey conducted amongst its members, reports further signs of an increase in 'buyer enquiries' and 'sales agreed' during February 2009.
Buyer enquiries and sales agreed increased again in February 2009 according to a survey conducted by Home Sale Network, the national network of independent estate agents, in early March.
Asked whether members had seen an increase in buyer enquiries in February when compared to January, an overwhelming 90% of respondents to the survey indicated YES. This is the third month in a row that Home Sale Network members have reported an increase in buyer enquiries.
76% of survey respondents also reported an increase in the number of sales agreed in February compared to January. When asked about sales price compared to asking price, 54% of respondents reported a sales price achieved percentage of between 90-94% of asking price. A further 29% said sales price achieved in February ranged between 85-89% and a further 15% reported sales prices between 95-99% of the original asking price.
Asked to name one key factor that has caused the increased interest in the property market this year, Home Sale Network member respondents cited a reduction in prices (61%), an increase in investment buyers (12%), and pent up demand (11%) as the key factors. A further 9% of survey respondents attribute this to buyers believing that property values have now hit the bottom of the market.
Richard Tucker, Managing Director of Home Sale Network said, “We saw a further increase in both buyers and sales agreed during February when compared to January. Whilst this is still very early days we are encouraged by these signs of movement and believe that realistic asking prices remain the key to effective sales in this market.”
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