Home hope
NEW data has provided further evidence that the end of the housing slump could be in sight.
Nationwide said that house prices rose by 1.2% during May, the second rise in the last three months as buyers continued to return to the market.
The latest jump pushed average prices up to £154,016 and caused the annual rate at which property values are falling to slow sharply from 15% to 11.3%.
Meanwhile a survey by the Home Sale Network has highlighted rising demand, sales and activity within the market. Nearly four out of five respondents said enquiries from buyers increased in April compared with the previous month, while 64% reported an increase in the number of sales.
The rise in activity has allowed cash-strapped estate agents to shift more stock, with 75% of those surveyed reporting a decline in the number of properties on their books.
Network member John Newhouse, of Roseberry Newhouse in Stokesley, said he was seeing “further encouraging signs” within the market in his area.
