NAEA reflects on Halifax house price report

The National Association of Estate Agents (NAEA) has responded positively to Halifax's latest house price survey.

It has joined the Royal Institution of Chartered Surveyors (RICS) in suggesting that the figures - which revealed the value of property increased 2.6 per cent in May - are a good sign for the whole industry.

A statement released by the NAEA also drew attention to other indicators of housing market health, which have been reported recently.

"Our agents are reporting increased sales, more people wanting to look for property and a healthy resurgence in first-time buyers," it commented.

Meanwhile, RICS indicated that Halifax's study reflected a similar trend to the one reported by Nationwide Building Society last Friday.

"It is also consistent with the gentle upward move in the RICS sales-to-stock ratio which historically has been a good lead indicator of house price inflation," the chartered surveyor group added.