Housing market in Wales improving
July 15, 2009 by Brendan O'Neill
News
WalesOnline this week reported that house sellers in the south of Wales are being ‘less flexible’ in their home prices as they believe the housing market is improving, according to estate agents in the area.
The Royal Institution of Chartered Surveyors (RICS) appears to back this information up as their new buyer figures show enquiries have reached record levels in the country since the records started in April 1999. Although RICS does advise the data suggests the region’s housing market may be improving, it did confirm that mortgage lenders now averse to risk following the credit crunch are preventing further improvements and we have still got some distance to go for a full recovery.
Kelvin Francis, of Kelvin Francis and Co in Cardiff, said: “The market continues to improve, month by month. There has been an increase in the number of viewings and the conversion to sales is increasing at a consistent rate. Some vendors are becoming less flexible in negotiations, as they perceive improving market conditions, being prepared to wait for the next ‘buyer’ if the offer does not meet their expectations.”
Other estate agents appeared to back this opinion up.
These aren’t the only figures to show improvement as new instruction figures for Wales also rose slightly as did the number of transactions per agency.
Written by
Brendan O'Neill
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