NAEA - cold snap did not put off house buyers

Residential landlords could be among the "brave" house hunters who purchased new properties during last month's cold snap.

Recently-published figures from the National Association of Estate Agents (NAEA) have revealed that the number of people registering with estate agents to buy a new property increased from 251 in December 2009 to 291 in January.

According to the report, buyers were not put off by the cold weather, with the average agent selling six properties in January, compared with five houses in the previous month.

Gary Smith, president of the NAEA, said: "Our figures suggest that concerns expressed about the prospects for the market in 2010 may prove unfounded.

"This appears to be confirmed by the increased level of sales, which given the awful weather conditions is quite amazing. The dwindling housing stock on our members' books reflected the increase in sales month on month, but this is a worrying trend that if continued will result in further upward pressure on prices."

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