Upturn in the housing market

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A leading estate agent says the island’s housing market is improving.

David Creane of Cowley Groves told the Examiner: ‘There has been a definite change in the market over the past few weeks with the number of sales agreed by ourselves increasing significantly.

‘We now have more sales awaiting survey and mortgage approval than we have had for quite some time. I have checked activity with the other main agents and a similar situation exists - thankfully. This activity is good news in that people are moving - either upgrading, downsizing or indeed taking their first steps onto the property ladder.’

He said that prices ranged from a one-bedroom flat at £102,000 to a £400,000 four-bedroom detached property.

He said that a lot of buyers now already had their mortgage approved, had sold a property or were cash buyers.

He added: ‘It is also interesting to read in the local business press of new start-up companies thereby reducing the numbers of unemployed which is good news for all generating more cash in the market.

‘It is also encouraging to read that UK house sale numbers have also increased dramatically which bodes well.

‘We hope that this new confidence in the market remains as we go through the year.’

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