Housing market in recovery?

We’ve all been hearing about these ‘green shoots’ of recovery across Britain over the summer but one local company has given a clear indication that things could be looking up in the Newtown area too.

Estate agents, McCartneys, has announced that October was its busiest month of 2010 for agreeing sales subject to contract from its Newtown office, with Newtown, Welshpool and its surrounding areas performing particularly well.

The sales agreed were on a wide variety of properties, from terraced, town houses to substantial country properties with asking prices ranging from £125,000 to well over £500,000.

Tom Carter (below), Partner with McCartneys, commented : “We are extremely pleased with the results in October which have come on the back of a lot of hard work. We have built up a large data base of potential purchasers in strong buying positions; we are realistic in the pricing of property in a difficult market and provide sound professional advice to both buyers and sellers.

“It is extremely encouraging to see such positive activity and such a large number of sales being agreed at this time of year and in such a difficult market.”

McCartneys Newtown office also reported high levels of activity in the rental market for the month with strong demand from tenants for a range of properties in Welshpool, Newtown and surrounding areas.

Nationally, Housingwatch.co.uk reported last night that the housing market is bullish as mortgage applications rose for the third week in a row with both refinances and purchases on the upswing. The Mortgage Bankers Association has reported its healthiest figures for the housing market in five months.