UK housing market shows signs of improvement

The National Association of Estate Agents (NAEA) reports that house-hunters demand figures reached a six-month high in January.

Registrations with estate agents to buy property are improved and the number of houses available for sale increased per branch in December indicating that demand for property can be met in the short-term, which it is believed will ensure stability.

Michael Jones, President of the NAEA, is reported as saying that: "It is encouraging to see activity levels begin to increase following the downturn we saw in December where bad weather and the Christmas festivities kept many house hunters away. What we need to see now is the FSA using its newly-gained powers of oversight to ease mortgage lending restrictions that are preventing so many first time buyers from entering the housing market."