Amid headline news of the triggering of Article 50 and the possible implications of the move, there still remains a bustling UK housing market. Sectors within the market are moving at a pace which some experts find a bit surprising. According to the latest data of estate agents, UK property sales increased to a 10 year high during the month of February. First time buyer activity however, fell during the month.

The data from the National Association of Estate Agents indicates confidence in the market is actually mounting as time passes and the exit from the EU draws near. Sales per estate branch averaged six per month in December of last year. January posted eight sales on average per branch.

Buyers are benefitting in regard to selling price as well. Sellers are not holding strong to a sale price either. Almost 75% of transactions were completed with the seller taking less than the asking price.

As property sales are running strong, so are remortgage approvals. House owners are still living in favourable times and seeing big savings are possible with a remortgage. Lenders are making this possible as they are offering low interest rates and low closing costs.

Mark Hayward of NAEA commented on the latest data, saying: “The number of sales agreed reaching a 10 year high indicates the housing market is moving in the right direction. However, first time buyers need to be a priority as the number of sales made to the group dipped in February when it should be growing.”

Hayward added: “As house prices continue to rise, the market’s most vulnerable buyers are being priced out and the only way to address this is to increase housing stock. The Government has pledged yet again to build more homes, but our members aren’t feeling optimistic about the plans.

“If promises are kept and we see construction sites set up across the UK, we’ll be in a better position in a few years than the stark reality we will be facing if this doesn’t happen.”