Demand for property in the UK is exceeding supply, according to the latest National Association of Estate Agents (NAEA) monthly survey of the housing market.
This would suggest that perhaps now is a good time to be putting a house or flat up for sale.
Meanwhile, the NAEA research indicates that the average estate agent branch in the UK had 287 house hunters on its books in October and 57 properties listed for sale.
It also shows that the gap between asking and selling prices dropped from 10.9 per cent in September to 8.8 per cent last month.
Earlier this week, the Halifax House Price Index revealed that the typical home in the UK was worth £165,528 in November- up 1.2 per cent month-on-month.
Capital Economics property economist, Seema Shah said the small increases seen recently made no difference to the underlying outlook and basic argument that prices are still over inflated.
She predicted that if rises continued sellers would become more confident about putting homes on the market, increasing supply and therefore driving down prices.
We are essentially an Island with an ever increasing growing population, we are always going to need more homes to meet with demand, I think that we should utilise neglected, empty properties that for one reason or another are just left. Surely these could be made habitable. Why not really make houses that are affordable to first time buyers, they are our industries lifeblood. These measures could reduce overwhelming demand and stimulate a quiet construction industry. Property prices could stabilise with a better balance of supply and demand.
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