Increase in first-time buyer registrations, says report

24-Mar-2009

New buyer registrations this year are the highest that they have been since last Easter and the property market is stabilising, says Your Move.

The estate agency network said that interest from people who wanted to buy property had spiked in February, and first-time buyer registrations had boomed in January and February.

David Newnes, managing director of Your Move, said there had been a "painful" adjustment in the housing market.

"But I think we could be seeing some light at the end of the tunnel," he said.

The report also showed that property based internet traffic had returned to 2006 levels and house price falls were slowing.

A recent report by haart estate agents showed that buyers were taking advantage of falling house prices and low interest rates.

According to the research, in January and February, the number of people looking for a new home rose by 80 per cent.

The latest Halifax House Price Index backs up Your Move's claim that the property market is improving. It claims there are some "tentative" signs that the housing market may begin to stabilise.

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