Modest improvement

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There were some modest signs of improvement in the property market during February, with buyer, tenant and mortgage applications all increasing; according to Countrywide, the UK’s largest property services group.

Across the UK, property viewings – one of the leading indicators of buyer appetite – increased by 40 per cent in February, the company announced last week.

The number of UK sales agreed rose 47 per cent during the month.

Estate agent Frank Innes, which is owned by Countrywide, reported an increase in demand for properties across the East Midlands.

Jonathan Simpson, managing director, said: “We’re seeing more serious buyers entering the market, with realistically priced properties being snapped up.

“There is a greater level of demand for properties under £200,000 that offers a deposit assisted scheme.

“The buy-to-let market also remains an attractive source of investment with tenant demand also on the increase.

“Across the UK, tenant demand jumped by 11 per cent, with over 19,000 new tenants registering for rental accommodation in February.”