The property market is finally improving after months of decline

Figures from residential agents Hamptons International show that the property market is finally on the up, as sales are at their highest for a year, with potential buyers also at their highest level for 10 months.

The research also shows there are nine new prospective buyers registering for each new property put up for sale, an increase of 17.5 per cent on last year. The news will be a welcome relief for estate agents and those with a house stuck on the market.

Property viewings have also risen sharply and fall-through sales are lower than 2007 and 2008 levels.

“The latest figures show that the UK market is beginning to undergo a definitive change; with an uplift in new registrations and viewings now starting to translate into net sales.  Many people are turning to property as the best possible investment following the instability of the banking sector and sharp reduction in interest rates. In times of trouble, people want to invest in something that is real – to live in or to rent – as opposed to placing their money in the bank,” comments Marc Goldberg, head of residential sales, Hamptons International.