Survey results in June from the National Association of Estate Agents (NAEA) reveal continued stability in the housing market.

Both sales agreed and houses available are consistent to those reported in May. The number of buyers on estate agents books fell slightly, but this does not appear to have any immediate affect on the market.

The first time buyer share of the market slipped back slightly in June after its dramatic increase in May. They took 12.5% of the market in May, and 11.9% share of the market in June. This compares to just 7.8% in June 2005 and 28% five years ago in June 2001.

The lack of increase of interest rates has been a successful in bringing the foundation level of the housing market back. However it is clear that more needs to be done to encourage this sector of the market back to full strength and successfully underpin the market.

But, sales are up by 25% from June 2005, an average of 15 sales per agent was reported in June in comparison to just 12 one year ago.

The gap between asking price and selling price closed further in June, and is now at just 3.1 per cent. This is down from 4.5 per cent recorded in June 2005. The NAEA said that it’s a positive sign for the wider housing market, indicating that vendors and agents are being realistic with pricing.

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Key findings
- Sales up from same period last year
- Sellers continue to be realistic with asking prices
- Serious buyers remain on the books
- Lettings Market looks strong

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Meanwhile, in lettings, the average time taken to let a property was down in June from 13.58 weeks in May to 12.72, however the number of vacant properties were up from 12 to 15 per agent. A greater number of properties coupled with the speed taken to let, indicate a strong sector. More landlords appear to have entered the market creating a more competitive environment for tenants to secure the right property.NAEA President, Charles Smailes, said: “I am delighted to see such a positive overall national picture for the June housing market. The increase in housing stock seen in May has held steady in June, and I hope to see this increase further in the coming months offering greater choice.

Despite first time buyer percentages decreasing slightly this month, I am pleased that this is still higher than the levels seen during the same period in 2005. It is extremely encouraging to see their continued involvement in the market.

However the increase in failed transactions is an unwelcome statistic, our HIPs research revealed, as we had suspected, that only a minimal amount (18.3%) of transactions fail due to unfavorable survey revelations.”