April 2009
George Solley, Director of Property Sales at Thorntons, said: "The Nationwide report is certainly interesting and aligns with the trend that we have noticed during March that there has been a significant move in the right direction with property sales. However, whilst there is little doubt that market conditions have improved, I certainly can't point to strong evidence to support a measureable rise in prices."
March produced around £14 million in sales across the Thorntons Property Services network, following a very lean spell over the winter months, and Solley added: "The real issues in the market have not related to house prices but to the number of properties which have been selling. In the latter part of 2008 the number of sales fell quite dramatically and competition for the limited number of buyers available did result in some price cutting to secure sale as buyers looked to negotiate prices.
"However, increased enquiries and viewing levels over January and February has now produced increased sales activity in March and prices have stabilised.
"Mortgages are still proving more difficult to find for the category of buyers who would make a real difference to the volume of sales. But for those who have the funding - or are able to take advantage of the schemes available to assist purchasers and sellers - a good selection of property is available at competitive prices.
"Part Exchange Schemes, Shared Equity, First Time Buyer assistance schemes have all assisted with sales on selected developments and properties and are genuinely there to help buyers and assist them in moving home.
"Buyers seem keener to secure properties than they have been for some time. Both second hand sales and the purchase of stock new build units have improved. We are a long way short of the sales we were producing during the boom period and recovery of that position is a long term prospect, but March has been a significant move in the right direction for those looking for the property market to recover."
Issued by Beattie Communications on behalf of Thorntons Solicitors.
Contact: Kimberley Hamilton, Tel 01698 787878