The rollercoaster fortunes of the housing market appear to be on the up, with two reports showing that homes are now selling faster than they were a couple of years ago, according to the Daily Mirror.
2007 was the year of the property peak, before the recession damaged the housing market. Now in 2009, not only are homes selling faster, but there are signs that sales are more likely to be finalised than they were two years ago.
The Townends and Hamptons International, two separate chains, have claimed that new properties to the market are twice or three times more likely to sell than last year, while the latter group has reported that new vendors are 47 per cent more likely to sell their property now than in 2007.
Douglas Sleaper, group sales director of Badger Holdings, which owns Townends, said: ?The jump in sales rates is simply a result of supply and demand, with estate agents registering four house hunters to every available property.?
Mr Sleaper said the results will vary with different estate agents: ?This is obviously an average and will vary with every agent and in different areas but demand within the market is increasing as confidence grows.?
Property shortages on the market are forcing buyers to act, whereas the general caution on behalf of sellers has led to demand outstripping supply. Mr Sleaper said this was the reason that selling has increased: ?In fact, a seller is statistically more likely to make a sale now than at any other time in the last two-and-a-half years,? he claimed.
