10 Aug

Property market saw 'great promise in July'

Property market saw 'great promise in July'

Estate agents in the UK are expected to be happy after it was revealed that July showed great promise for the property market.

According to the National Association of Estate Agents (NAEA), last month was one of the strongest for the housing market.

Its monthly report revealed that as well as the number of interested homebuyers increasing, there were more properties on the market.

Michael Jones, president of the NAEA, said: "Demand and supply both increased in July, which is great news for the housing market."

The report showed that estate agents had an average of 68 properties on their books in July, an increase from an average of 59 the previous month.

It also revealed that the average agent had 293 registered house hunters, compared with 279 in June.

Today (August 10th), Rics announced that the value of properties decreased in July for the first time since the same period in 2009.ADNFCR-1222-ID-800019549-ADNFCR

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