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First Time Buyers are often the key to the housing market, once they start moving, the rest of the market will follow suit. According to the latest Housing Market Report from the National Association of Estate Agents (NAEA), a third of total sales in October were agreed to FTB’s, a nine percent rise from September and the highest number since recorded began 16 years ago in 2000.
The report also confirmed that the supply of available properties has increased to its highest level since March this year with the average number of buyers having also increased to the highest level since February.
Mark Hayward, Managing Director, National Association of Estate Agents (NAEA) comments on the findings: “This month’s report paints a positive picture for the UK housing market. Our findings over the last few months indicated mild uncertainty immediately following Brexit – and last month we even saw sales to FTBs fall. After shrugging off the uncertainty, we have seen an increase in supply and a rise in the number of sales to FTBs this month – proof the market is beginning to bounce back.
“Clearly what we need now though is a clear plan as to how the Government is going to tackle the chronic shortage of homes that we are facing. During the Autumn Statement, the Chancellor announced a boost to house-building which is a start but sadly nowhere near enough. We have high hopes for the Housing White Paper as this will set the housing strategy and intent for this Government going forward.”
Graham Sheardown, senior valuer, confirmed that the local picture was just as optimistic. He said: "We are definitely seeing signs of this, we still have a shortage of houses for this type of buyer, who are also now competing with investors who have also returned to the market a similar price level. When we list houses that are more suited to our first time buyers we are getting lots of viewings on open days which often result in 'sealed bids' and in some situations achieving offers in excess of the asking price. We are very interested in listing more properties to sell to our growing list of buyers."
If you are considering selling your home, we would be happy to give you a free, no obligation market appraisal. Call us today on 0115 9811888.
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West Bridgford
3 Fountain Court, Gordon Road
West Bridgford
NG2 5LN
Keyworth
7 The Square
Keyworth
NG12 5JT
Sales: 0115 981 1888
Email: [email protected]
Lettings: 0115 914 1122
Email: [email protected]
Property Management: 0115 982 4949
Ashby-De-La-Zouch
4 Bath Street Corner
Ashby-de-la-Zouch
LE65 2FH
Sales and Lettings
Telephone: 01530 443 443
Email: [email protected] [email protected]
Wolverhampton
568 Penn Road
Wolverhampton
WV4 4HU
Sales and Lettings
Telephone: 01902 338 185
Email: [email protected] [email protected]
Property Management
Telephone: 01902 338 185
Email: [email protected]
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Royston and Lund are independent, award winning Property Specialists with branches in Ashby de la Zouch, Keyworth, West Bridgford and Wolverhampton. We are passionate about the service we offer and are proud to employ the most experienced and professional group of people in the area.
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Royston & Lund Estate Agents Ltd. Registered in England. Company No: 4239895. Registered Office Address: 3 Fountain Court, Gordon Road, West Bridgford, Nottingham, NG2 5LN.
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