You may have to sit down before you read this next line, are you ready? OK…

Estate agents aren’t the reason behind stressful sales, the Office of Fair Trading (OFT) has given the industry a clean bill of health and, here’s the shocker, satisfaction levels are up.

Yep, you read right, they’re all on our side, well I’m not sure about that and a quick house sale isn’t somehting that industry has to offer right now but they aint so bad. the news comes as part of a report commissioned by the OFT that has also revealed the increasing influence of the internet on the way we buy and sell homes.

One outcome of the report is that the OFT wants to encourage online businesses that let buyers and sellers meet by freeing up regulations. At the moment, most housing market services online are provided by the traditional estate agents rather than aptly named ‘introducers’. If the OFT get their way, this will all change. More on this on Monday.

The results of a fascinating study by the Halifax have revealed that houses are less affordable now than they were 50 years ago, although the quality has improved, thankfully. The Lloyds Banking Group owned conveyancing solicitors and lender found that UK house prices have risen by 2.7% a year between 1959 and 2009
and that there were four major boom periods that contributed the most. These were:

- 1971-73
- 1977-80
- 1985-89
and 1998-2007.

In real terms, the average home has almost quadrupled in value, rising 273% since 1959. But the figures aren’t all good, first time buyers (FTBs) have been hit by the changes as house building levels have fallen, but the proportion of households occupied by just one person has risen from 19% in 1971 to 33% in 2009, the Halifax said. The impact on affordability of smaller homes for FTB’s has been great owing to this shift, adding pressure to the market place.