Gap Between Asking and Selling Price Narrows
Here are the key points from June's National Association of Estate Agents (NAEA) report:
 | - The number of house hunters registered with estate agents decreased from 299 in May to 290 in June.
- The number of sales agreed per agent remained high for a third consecutive month with an average of ten (9.5) reported in June – double the amount sold during the worst of the housing market downturn in August 2008.
- The average number of properties available for sale decreased from 69 in May to 64 in June.
- The number of first-time buyers (FTBs) decreased from 43 per cent in May to 26 per cent.
- The gap between asking and selling prices shrank from 6.3 per cent in May to 1.9 per cent in June.
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NAEA President Gary Smith said: "The housing market is in a far stronger position than it was 12 months ago. After several months of continuous improvement the market stabilised in June, ahead of an expected seasonal dip throughout the summer.
"It is in the interests of the UK as a whole that the upturn in the housing market that has been noted in the first half of 2009 is sustained and nurtured into a full recovery.
"The Government must do more to ensure that money that has been given to banks finds its way through the system and into the housing market."
Read the NAEA June 2009 report
Related story:
Property Sales Pick Up (19 May 2009)
The number of properties being sold rose to an 18-month high in April, says the National Association of Estate Agents...
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