Extra pubs on agents' books

A survey has revealed that 80% of licensed property agents have more properties on their books now than at this time last year.

The figure suggests more hosts are looking to sell due to difficult trading conditions.

Simon Hall, a director at the Leeds office of Fleurets, said: "Just because people are getting instructions on the books it does not mean they are selling - it just means people want to sell.

"We have more properties on the books in our Leeds office than ever before."

The survey also found that three in four property agents believe the licensed property market is less buoyant now than at this time last year.

The questionnaire was completed by members of the Association of Valuers of Licensed Property (AVLP), a group of agents including representatives from

Fleurets, Colliers CRE and Brownill Vickers & Platts.

"I don't think there are any big surprises here," said Hall.

"The market is less buoyant than last year. The residential slow-down has affected the amount of equity people are getting for their property, the smoking ban has come in, interest rates have gone up and it's become harder to borrow due to the credit crunch. There's just less activity - it's harder to do deals and it takes longer to do them."

Looking at the standard of applicants seeking to take on a licensed property and asked if this had improved or worsened, the group was split with 30% saying better, 30% saying worse and 40% saying it had remained roughly the same.

When asked if licensed property prices would rise in the coming 12 months, 50% said no and 30% said yes, with 20% saying they were unsure.

Hall said: "It's a case of supply and demand - prices could well go up on high-quality rural freehold and leasehold pubs because they are in short supply.

"Conversely, prices will go down in areas where there are lots of community wet-led pubs available and little demand."