'Serious sellers' are back

There finally seems to be a bit of good news for the UK housing market as new figures from the National Association of Estate Agents (NAEA) report the return of the 'serious seller'.

That is, people who put their house on the market at a realistic asking price with a genuine and strong imperative to sell.
The NAEA figures revealed that the UK housing market had fared better than expected this summer as estate agents reported an increase in sales during the traditionally quiet month of August.

The average agent sold eight properties per branch, up from seven in July and compared to seven from 12 months ago. House-hunters also showed renewed interest as demand figures reached a four year high. The number of people registering to look for homes rose from 299 to 304 on average.
The figures also showed that the level of unsold stock on agents' books had dropped from 70 to 65. Data collated from the NAEA's 7,000 members revealed that many sales arose from three to four bedroom properties.
Wendy Evans-Scott, President of the NAEA said: "This summer has seen the return of what you might call the 'serious seller' - those who price realistically because they have a strong imperative to sell.
"Although supply levels dropped slightly, the number of sales made held strong, suggesting that those sellers that have remained in the market are pricing their homes sensibly.
"The increase in the number of family homes sold demonstrates that it is those that have to move because they need more space that are in the market. Accordingly, there are fewer speculative sellers out there, who inflate prices and are not committed to a sale."
There was unfortunately one less positive piece of news - the latest figures highlighted the increasing pressure on first time buyers entering the market. The percentage of sales to this group decreased from 21 percent to 20 percent between July and August.
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