ESTATE agents in Ryedale are cautioustly optimistic about signs that the property market is starting to show signs of recovery.

The Gazette & Herald spoke to a number of local estate agents who are seeing a marked increase in the number of people buying and viewing houses since Christmas.

John Wetherell, regional operations director at Reeds Rains, said: “We are seeing increased levels of applicants registering with us, more viewings, and more sales activity.

“It seems to me that a number of people out there are sick of waiting to buy a house.

“Many people wanted to buy a house 12 months ago, but they put their plans on hold because of the credit crunch.

“Now they are deciding to just get on with it – people don’t want to put their lives on hold forever.

“If you buy a house now, the price might drop slightly, but it will come back again.

“I think we are very near the bottom of the market.”

He added: “The majority of the houses we are selling in Ryedale at the moment are terraced houses around the £100,000 mark, but there is sporadic interest in more expensive properties.”

He also said that despite the improvement in the market he has noticed, it can still be difficult to get a mortgage without a decent deposit.

Andrew Wood, valuer at Cundalls, which has offices in Pickering and Malton, said: “Certainly we have noticed more people coming through the doors.

“It is partly a seasonal thing, because it is traditionally very quiet in the run up to Christmas, but it is encouraging that people seen to have more confidence.”

Steve Camps, director of Hunters estate agents in Malton, said: “It’s taken us by surprise – there has been a lot more general activity since Christmas. There seems to be a lot more confidence.

“People have seen prices coming down for the past year or more, and they are starting to think it is at a level where they are happy to make a commitment.

“For people who already have a mortgage, and who are on a variable rate, the interest rate reductions made by the Bank of England are hitting their bank accounts this month, so they are starting to feel like they can actually afford to move house.

“There is very little short-term gain to be made in the market, so the people that are buying are buying for the long term.

“Long may it continue.”

There was no evidence that any part of the region was faring any better or worse than its neighbours, and the estate agents approached confirmed they were seeing a mixture of first time buyers and people already on the property ladder.