South Essex housing markets shows signs of recovery (From Southend Standard)

South Essex housing markets shows signs of recovery

6:20pm Monday 18th March 2013 in Echo News By Luke Lambert

THE economy might still be fragile, but could good times be coming back to the housing market?

New figures from the Royal Institution of Chartered Surveyors show that house sales reached their highest level for more than two-and-a-half years last month.

The figures show an average of 17 homes were sold in the three months running up to February, the highest sales level since June 2010. And the surge in sales is certainly being felt on the ground in south Essex with estate agents noticing a dramatic rise in sales in the early part of this year.

Alan Kirkman, director of Tudor Estates in Victoria Avenue, Southend, said: “The sales are going well at the moment. January was very strong for us and I think that will be the case across south Essex. There are many reasons for this - investors are still buying homes and we are seeing more and more first time buyers in the market which is really encouraging for all estate agents. There is also an increase in the amount of mortgages being offered.”

Holmes Pearman on East Walk in Basildon has also been selling well. Director John Pearman said he was pleased with current trade.

He said: “It is improving all the time. In the last four years we have sold a lot of homes between March and July. If it is the right price it will sell. Sellers may be inclined to turn down an early offer but often this is when the better offers are made. We had one home in Fryerns recently that we had a sale agreed on the same day.“

Billericay estate agent director Jeremy Tyler said February had been their busiest ever month.

Mr Tyler said: “We have seen a lot of three bedroom, semi-detached properties at around the £250,000 price sell extremely quickly. We have been doing well but the more houses that sell and the lack of stock at the moment means many estate agents will soon raise their prices.”

Canvey Island estate agent Richard Poyntz says its viewing figures have been the best it has ever seen in the last two months.

Partner in the company James Poyntz said: “Before this February our best viewing figures were in 2007 but we have been seeing 100 viewings a week recently. Our best was 150 viewings at the start of February and the only complaint is the lack of houses on the market. All in all it is thriving.”