Latest market indicators reveal positive outlook

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A market update from Countrywide, the UK’s largest Property Services Group.

Countrywide Estate Agents: (the UK’s largest estate agency network, which operates more than 1,000 branches throughout the UK)

Grenville Turner, Countrywide Chief Executive, said: “The final weeks of the stamp duty holiday in December pushed through hundreds of sales but a new wave of buyers and sellers have come through in 2010, which has caused a sharp increase in demand. New buyer enquiries rose by 81.7 percent in January 2010 while viewings increased by 50 percent compared to December 2009.

“Sellers are finally returning to the market, with the number doubling in January and sales are up 20 percent, while house prices have increased by 15.5 percent on last year. This strong demand is a good indicator and highlights a renewed sense of consumer confidence, which gives us an idea of what the market might look like in the coming months.”

• New property instructions – up 107 percent (Jan 2010 vs. Dec 2009)
• Buyer enquiries/applicants – up 81.7 percent (Jan 2010 vs. Dec 2009) and 4.3 percent
increase (Jan 2010 vs. Jan 2009)
• House sales (properties exchanged): up 20 percent (Jan 2010 vs. Jan 2009)
• House prices (on exchange): up 15.5 percent (Jan 2010 vs. Jan 2009)

Countrywide Mortgage Services: (the UK’s largest mortgage broker)

Grenville Turner, Countrywide Chief Executive, said: “From a mortgage perspective, competitive pricing is working in the favour of first time buyers with eight of the Top 10 Mortgage Applications in January designed with first time buyers in mind, some of which have been re‐priced and further reduced. We’ve also seen a strong increase in mortgage applications in recent weeks.

“The best rates are reserved for those with the biggest deposits but customers are paying 31 percent on average, and the rates for these products might finally tempt remortgage customers back to the market. Some basic cost comparisons show how SVR customers could actually make some significant savings.”

• Mortgage applications: up 12 percent (Jan 2010 vs. Jan 2009) and 14 percent (Jan 2010
vs. Dec 2009)
• Mortgage deposits (Top 10 Mortgage Applications) – customers paid a 19% percent deposit
on average in January 2010
• Mortgage deposits (average overall) – customers paid a 31 percent deposit on average in
January 2010

To arrange interviews and find out more, please contact:
Gemma Stacey
Group PR Manager
Tel: + 44 (0)7515753344
Email: gemma.stacey@countrywide.co.uk

Countrywide is the UK´s largest and most successful estate agency and property services Group, operating more than 1,200 associated branches across England, Scotland and Wales.