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Estate Agents Optimistic about Market Place

Tue, 27 Jun 2006
Estate agents are much more optimistic about housing market than they were this time last year.

National Association of Estate Agents (NAEA) figures show volume of sales, number of properties for sale, as well as number of people looking to buy, all went up in May.

In the last 12 months there has also been a great fall in the amount of time it takes to sell a home, as well as an increase in first time buyers .

The first time buyer share of the market went up 13% in May from 8% in April, the highest for 12 months.

First-time buyers support the wider housing market, so their return is a great sign for the market as a whole.

The number of houses for sale per estate agent has risen from 62 to 66, although this is still down on May 2005's average of 81%.

This could be due to a lessening of the time it takes to sell a property, down from 20 weeks in May 2005 to 16.7 weeks in May 2006.
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