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Demand for Bristol flats outstripping supply?

10 November 2009

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The demand for Bristol flats may be outstripping supply, figures produced by the National Association of Estate Agents (NAEA) suggest.

 

According to the organisation, the average branch had 287 house hunters on its books in October, 22 per cent of whom were first-time buyers (FTBs).

 

In addition, agents reported having 57 properties on their records last month compared with 62 in September.

 

The NAEA claimed that this increase in demand for homes compared with supply has pushed prices up, with the gap between asking and selling prices falling from 10.9 per cent in September to 8.8 per cent in October.

 

Gary Smith, president of the NAEA - which claims to have around 10,000 members in the UK and abroad - said the government should leave the current stamp duty holiday for flats and houses worth less than £175,000 in place on an indefinite basis.

 

He added: "There is strong demand for property and more optimism in the housing market than we have seen for months."

 

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