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Property News
Number of British homebuyers increasing - 09/05/2006
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Britons are increasingly buying and selling homes, showing increased confidence in the property market.
More than twice as many consumers moved homes in the first quarter of 2006 when compared to the same time last year, research from My Mortgage Direct shows.
Data also shows that the number of people moving between January and March increased by 15 per cent when compared to the last three months of 2005.
Cathe Hearnden, joint director of My Mortgage Direct, told myfinances.co.uk: "The year started on a positive note and, as we predicted, has continued to show a steady increase in homeowners moving upwards and onwards instead of staying put and playing safe."
She added: "Last year saw a strong remortgage market and first-time buyers were also back in the frame, but this is not enough to sustain the market alone."
Ms Hearnden continued that she was pleased to see "major players" competing well in the market after a disappointing 2005.
The findings follow reports from the Land Registry that the average British home is approaching £200,000 in value.
Property prices in England and Wales rose by 5.05 per cent in the first quarter of the year with all regions experiencing price rises.
Top rises were all seen in the south with towns in Wales and the north doing particularly well for price gains.
© Adfero
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