Housing market showing signs of recovery

Last updated: Jan 21st, 2013
News by Hugh Morris
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The property market is showing signs of "green shoots" as the number of new sellers grew 22% from last year, according to Rightmove.

The increase is being hailed by the property website as a sign of recovery in the sluggish housing market.

Research by Rightmove also found seven out of 10 of January sellers are "discretionary sellers". This is a sign of confidence as it suggests people are choosing to sell their houses rather than being forced to by "the three Ds" of death, debt and divorce.

Rightmove has also seen a 27% year-on-year increase in web traffic amid hope the new year will bring good fortune to the market.

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Green shoots

Miles Shipside, a housing market analyst for the website, says: "There is an increasing body of evidence suggesting genuine 'green shoots' of recovery after a prolonged period of the housing market bumping along the bottom.

"While the number of sellers financially fit enough to come to market is still well down on pre-credit-crunch levels, there appear to be an increased willingness among those that can, to give it a go."