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8 Houses per Estate Agent

According to  the National Association of Estate Agents, sales agreed per branch stayed at eight for the fourth month in a row.

The NAEA report also revealed a few more interesting factors as to why confidence in the market is fragile.

Buyers are still failing to overcome the significant barriers to home ownership that the current housing market represents. This seems to be down to the continued lack of confidence in the market as property is no longer viewed as the only sound short term investment. Many potential buyers are still struggling to secure an appropriate mortgage even though the rates are still at an all time low.

President of the NAEA, Wendy Evans-Scott said ” The banks must find a balance between the loose lending of the boom and the rigidity of the current lending rules; house buyers need the Government to act in a sensible and proportionate way by encouraging the banks to offer adequate financial help to buyers.”

8 Houses agreed per month

8 Houses per Estate Agent on average

Registered home buyers with estate agents fell to 263 in June from 275 the previous month, the Warwick, England-based association said in an e-mailed report today. The average number of properties available per agency rose to 74, the most since April 2009, from 68.

NAEA reported “Demand for property remains consistent but the barriers to buying are proving impossible to overcome for the vast majority of consumers. Our members have likened the housing market to an obstacle course, with many falling at the first hurdle as the finance required to buy just isn’t available. If they can actually get finance they are struggling to find the right property as there is not enough supply to offer the choice and then they still have to find the money to pay for Stamp Duty. ”

 

posted by Zane in Buying,Estate Agents,For Sale,Property and have No Comments

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