Figures that were released recently have shown that the number of properties that have been put up for sale have increased by 25% compared to last year. According to the report property owners who are selling their homes have become increasingly realistic about how much their homes are actually worth. The report comes from the National Association of Estate Agents.

The NAEA said that part of the reason why the property market had stagnated was because so many sellers were previously being unrealistic about how much their properties were worth and were often putting their homes on the market at unrealistic prices just to see what would happen. The NAEA has said that the new figures show that there has been an increase in confidence and sentiment in the property market.

Figures have shown that the average number of properties that each estate agent had on the books in February was seventy, which was up from an average of fifty six during the same month a year earlier. There was also an increase in the number of properties that were sold to first time buyers according to the figures, which went up slightly from 24% to 25%.

An official from the National Association of Estate Agents stated: “The picture is still very variable across the UK with agents reporting much higher growth in inquiries and stock availability in some regions than others. Undoubtedly, broader economic constraints on spending continue to impact on consumer confidence, especially at a first-time buyer level, and the effect of the public sector cuts has yet to be fully felt. With limited mortgage availability and the concern about a likely rise in interest rates still putting off many of the people who otherwise would be looking to buy, it is important that the Government does everything it can to encourage growth at this crucial stage of the recovery process.”