Surge in buyer enquiries

A surge of new homebuyer enquiries is keeping estate agents busy, but not translating into sales, show new figures from rightmove out today. There has been a 108 per cent annual increase in the number of enquiries from new buyers in 2008, but with access to credit still restricted this has not yet turned to an increase in sales. Average prices in February are up 1.2 per cent from January, but rightmove says that only properties priced at around 25 per cent below their 2007 peak were selling.