Sign of recovery in homes market, survey shows increase in sales in capital

Sign of recovery in homes market, survey shows increase in sales in capital.

Confidence is returning to the South Wales property market, according to one of the sector's most crucial measures.

Agency express which erects many of the UKs for sale signs and sold boards, said Cardiff has seen a month on month rise in house sales and lettings in March compared to the same month last year.

According to Agency Express' monthly survey, it was the second consecutive monthly rise in the number of houses sold, and the third consecutive month of a month on month rise in the number of new for sale listings.

Stephen Watson, managing director of Agency Express, said 'this latest set of data paints an encouraging picture for the housing sector in Wales, with activity levels higher than in the corresponding period last year. The significant uplift in new for sale listings and houses sales seen in March, combined with the trend over the last two or three months, bodes well for the future.'

Monthly house sales in Wales were up March following February's rise of 28.1%. Sales reached their highest level since November and were up 0.6% on March 2010. Sales across the UK increased by 23.2% in March

Market professionals said the data reflected their view of the sector, with the likelihood that 2012 will see stronger growth in sales volumes and prices as confidence returns to the economy.

Extracts of article taken from the Echo

21 April 2011


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