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Home buyers interest on the increase
Latest figures show that the interest shown by home buyers in London has increased enormously since last years fourth quarter. Estate agents are reporting a marked increase in the number of new buyer registrations compared to last year.
The Rightmove website has also published its latest figures showing that a fall in property prices could be just around the corner.
Rightmove felt that the fall in the number of properties coming on the market and an increase in interest from potential buyers would help to stimulate the housing market as early as the end of 2009.
The property website said that the number of new sellers had more than halved from 89,000 last January to 43,000 this January but that there had been over 430,000 buyer enquiries in the first fortnight In January alone.
Estate agents have also noticed a sharp rise in homeowners letting out their properties rather than selling them. In London, this figure has risen by 300 per cent during 2008 but as there was a shortage of tenants, the landlords have often had to accept low rental amounts.
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