Friday, 14 August 2009

Sales up 44% as haart experiences strong first half-year results

In the last six months we have seen a staggering 44% increase in property sales, compared to the same period in 2008 – reinforcing the fact that the UK property market is seeing signs of a major recovery.

Figures also show a 32% increase in the number of people looking for properties, with the average house price down 14% on June 2008 prices at £161,158.

Despite recent reports by the National Housing Federation, which indicated that the housing market will not recover fully until 2011, many of our haart branches have had their busiest months for nearly two years as the number of properties being listed and sold reached a new high.

Confidence is clearly beginning to return to the property market and our first half-year figures demonstrate considerable growth. July was a particularly strong month with branch sales up 133% compared with 2008, and exchanges up by 83%.

Prices have now bottomed out and are increasing in many areas. These low prices, combined with people now being able to get hold of mortgages more easily, have contributed to this surge of activity. The increase in mortgage approvals will give a much-needed boost to the property market and will show buyers that, despite the downturn, they are able to buy and lenders are willing to lend.

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