The 52% rise in house sales experienced by Warner’s property solictors, featured in an article in the Scotsman, which suggests that the housing market remains on course for a recovery this year.
After a winter lull and the end of the temporary stamp duty concession at the end of December, it seems that home buying and selling is on the increase.
In the period between 1st January and 5th March this year, the property solictors, has sold sold 94 properties worth some £15million, which is a 52% rise in property sales – compared to the same period in 2009.
They have also seen the number of homes for sale increase from 72 in 2009 to 128 in 2010, which indicates a definite boost in the property market.
Scott Brown estate agency partner at Warner’s quotes in the article: “We are seeing more people viewing properties and putting in notices of interest. I think the start of the year has been a catalyst for many people to take action to buy their next home, rather than waiting for market conditions to improve.”
Experts suggest however, that this increased activity is set against 2008 and 2009 figures – in which there was a considerably lower level of lending activity – and that signs of improvement in the market would remain subdued for some time.
In reaction to the 1 per cent stamp duty threshold increase, Brown also calls for further assistance to first time buyers, who do not have access to finacial support.
He says: “If the Chancellor had provided additional funding for those who do not have access to the bank of mum and dad -and do not have a large deposit in place for their first house purchase – it would have helped to stimulate the market even further.”