Housing market conditions improve in February
27th Feb 2012
Conditions in the UK housing market have improved this month, according to the latest industry figures.
The Monthly National Housing Survey by Hometrack shows that the number of buyers registering with agents increased by 18 per cent throughout the month, which is the strongest level of demand seen since the beginning of the economic downturn.
In addition, it is 15 per cent higher than the number of potential buyers recorded in February 2009, indicating a significant boost in interest from first-time buyers looking to beat the stamp duty holiday, which ends on March 24th.
On a regional level, the greatest increase in the number of buyers was reported in the south-east and south-west, while the stock of housing for sale grew by ten per cent over the month.
Commenting on the data, Richard Donnell, director of research at Hometrack, noted that the proportion of the asking price being achieved jumped to 92.9 per cent in February, which is up 0.4 per cent over the month, and the highest proportion since September 2010.
"On a regional basis, the greatest improvement was seen in southern England, where demand has grown the most, and the percentage of the asking price achieved stands at 93.5 per cent," he added.
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