25
Mar
Consumers told to buy
Current conditions being witnessed in the housing market favour
buyers, according to figures released by the National Association
of Estate Agents (NAEA).
The gap between asking prices and sales prices grew again in
February, the organisation said, hitting 4.5 per cent, but buyers
are being put off by unsettled conditions.
During the month, the number of buyers on books of estate agents
fell from 276 to 243 on average, it stated.
President of the NAEA Stewart Lilly remarked that world conditions
are starting to take hold.
"The figures reported in February echo the current climate of
confusion that is clouding the property market at present.
Invariably, the global credit crunch, especially the US situation,
has had a knock-on effect," he commented.
He added that it is disappointing to see a drop in the number of
first-time buyers and that they could see the benefits of the
current situation.
A recent survey carried out by the Fair Investment Company found
that a high amount of Brits would consider purchasing property
abroad in an attempt to get on the housing ladder.