Autumn property market is ‘buzzing’, says haart boss
Wednesday 16th October 2013
Estate agent chain haart has described the autumn property market as “buzzing”.
The firm says that new first-time buyers are up 69.5% on this time a year ago, helping to boost total sales transactions by 15.7%.
Based on data from its own 200 branches, it says average UK property prices are now £202,580, up 6.8% on a year ago.
The agent warns, however, that inventory in September was down by 2.4% on the month before.
Paul Smith, CEO of haart, said: “The new Help to Buy scheme will boost demand for homes by reducing a required deposit to 5%.
“This is a huge help to first-time-buyers who are unable to step on to the property ladder, but the influx of demand will also encourage second-steppers to put their home on the market as they will be further buoyed by the 5% deposit where they lack equity to move up.
“This extra feed of property will ease the current log-jam of supply.”
Looking for advice on Help to Buy or property sales/purchases in general, talk to AMS Solicitors – experts in Residential Conveyancing.