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The UK housing market in March saw a sharp rise in the number of property enquiries,
according to estate agents.
The National Association of Estate Agent’s (NAEA) market report for March showed an increase
in the number of house hunters registering with an agent across the UK. The figure rose
from 268 in February to 290 in March as an average per branch – its highest level in
eight months.
The number of houses available for sale decreased slightly from 70 per branch in February to
68 in March while the number of sales remained the same with eight per branch on average.
The percentage of sales made to first time buyers decreased slightly, moving from 25
per cent of the market share to 23 per cent, however this figure is still in line with
the year-on-year average.
NAEA President Michael Jones said: “We are very pleased to see that the market has remained
relatively stable despite the continued economic pressures that are making life very difficult
for homeowners and those looking to enter the property market.
“The significant growth in demand for homes reported by our agents suggests that house-hunters
are searching for a good deal on property before the traditional spike in activity over
the Easter holidays.
“That said, the picture is still very varied across the country and significant economic
barriers remain. Although the Chancellor’s Budget last month did grant some concessions
to First Time Buyers, it didn’t go far enough to assist the wider property market. Rather
than new build projects to help people onto the housing ladder, the government should
instead be looking at ways to maximise mortgage availability.”
ENDS
Editor Notes:
About the NAEA
The National Association of Estate Agents (NAEA) is the UK’s leading professional
body for estate agency personnel, representing the interests of around 10,000 members who
practice across all aspects of property services both in the UK and overseas. These include
residential and commercial sales and lettings, property management, business transfer, auctioneering
and land. The NAEA is a sister organisation to the Association of Residential Letting
Agents (ARLA).
The NAEA is dedicated to the goal of professionalism within all aspects of property, estate agency
and land. Its aim is to reassure the general public that by appointing an NAEA member to
represent them they will receive in return the highest level of integrity and service
in both sales and lettings, for all property matters. Both NAEA and ARLA members are bound
by a vigorously enforced Code of Practice and adhere to professional Rules of Conduct.
Failure to do so can result in heavy financial penalties and possible expulsion from the
Associations.
For further information contact:
NAEA PRESS OFFICE
Tel: 020 3128 8181
E-mail: press@nfoppmedia.com