Supply of houses on market declines in February

on Mar 17, 2015
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According to recent data from the Royal Institute of Chartered Surveyors (RICS), the number of properties coming on to the market fell by a further eight percent in February. New instructions have now fallen in six out of the last seven months and this is pushing up house prices across various regions of the country.

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Price expectations over the next three months increased from a net balance of three percent to 10 percent while the forecast for house price growth over the next 12 months stands at 2.4 percent. This comes despite concerns that vendors are holding back due to political instability in the run up to the elections.
Exceptions to the trend of increased house prices were seen in London, the North of England and the East Midlands, bringing forth the possibility that political unrest is having a greater effect on specific markets.
However, while agents work hard to win instructions in what is currently an exceptionally competitive industry, the Part Exchange Register is offering a new service, which will give support and assistance to agents. According to Joanne McClarence, operations director of Part Exchange Register, the innovative service offered “will help agents win instructions and speed up the sale of properties”.
The service works by enabling agents to generate additional property sales, by “bringing vendors and buyers together, in a more targeted and effective way”. The website is different to anything else out there as it provides estate agencies with an extra service to provide to their vendors and gives them another sales tool to work with. The site basically matches buyers and sellers from what has been coined as ‘moving on’ criteria such as where they would like to live, type of property they want to buy and their budget. Essentially, both the agency and people looking to invest in property can benefit from the service.
Agents simply need to upload their properties to the Part Exchange Register as part of their daily feed in order to use the service to its full advantage. The new website is also providing agents with a free trial for a six month period.

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