Buyers back as Haart witnesses 54% surge in registrations

In an extremely promising start to the year, a surge of buyers has registered with haart’s branches to take advantage of the more affordable house prices and lower mortgage interest rates. The latest data from haart estate agents has shown a 54% rise in the number of people looking to buy a property across the UK in the first two weeks of 2009, compared to the same period last year.

Russell Jervis, managing director of haart estate agents, comments: “Homeowners and first time buyers played a waiting game in the second half of last year until they could be more certain of how the market was faring, but are now keen to take advantage of the more affordable house prices and lower mortgage interest rates that have become available.

“Average house prices are returning to levels last seen three years ago, with first time buyers in particular in a position to get their first step on the ladder. Although prices in some areas may have slightly further to fall, pent up demand is likely to help drive the beginnings of the recovery that everyone has been hoping for in 2009.

“Essex and Suffolk, along with many of London’s commuter towns, have been particularly popular with potential buyers as homeowners look to move further out of the capital to obtain exceptional value for money. Investors are also beginning to turn back to bricks and mortar in force, to secure a bargain in an asset class where 10% yields have historically been the norm."

“However, the lively start that we have witnessed has yet to be converted into full productivity, as lenders remain the gatekeepers to the housing market and lending criteria is still incredibly tight. Even so, the early birds entering the housing market now will be ahead of the game.”