Personal Finance

Increase in number of unsold homes

Home buyers now have more properties to choose from, as the number of unsold houses on estate agents' books has reached a two-year high.

A report by the National Association of Estate Agents (NAEA) highlighted that confidence in the UK property sector is being boosted by new sellers coming to the market.

Last month, estate agent branches had an average of 74 properties on their books, compared with 68 in May.

The study indicated that people looking to sell their homes are now feeling more confident of attracting potential buyers.

The NAEA added that the last time estate agents had so many properties on their books was April 2009.

Although the increased figures are encouraging, NAEA president Wendy Evans-Scott warned that demand is still subdued as buyers struggle to find a suitable mortgage.

Sam Jackson

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