|
Wednesday 17th March 2010
House-hunters shun static market
The imbalance between supply and demand showed further signs of easing during February as potential new buyers stayed away from the housing market, research has shown.
Only 258 house-hunters registered with estate agents during the month, the lowest level for a year and down from 291 in January, according to the National Association of Estate Agents.
At the same time, the average number of homes estate agents had on their books rose slightly to 56 from 55, as recent price rises tempted sellers back to the market.
The group said bad weather during February may have caused buyers to stay away, while numbers may also have been hit by people receiving their Christmas credit card bills and the end of the stamp duty holiday. But the fall in demand, combined with a slight easing in supply, is likely to stoke concerns that the housing market recovery is running out of stream.
The shortage of homes for sale has been one of the key factors in helping to push up prices during the past year, but many economists predict they could resume their downward trend as more homes come on to the market.
Source: Press Association