The property market is getting stronger and stronger, so stated the National Association of Estate Agents (NAEA) today.
The NAEA's last property market survey highlights that sales agreed figures increased exceptionally last month, due to stable interest rates and employment.
The percentage of first-time buyers decreased, prompting the NAEA to ask the Chancellor to help them in his Budget tomorrow.
In 2005, the chancellor increased the lower threshold for stamp duty in order to help first-time buyers, with recent figures showing that the majority of first-time buyers are still hit by the tax.
Other than first-time buyers, the NAEA survey shows a healthy property market. Sales increased by 30% in February, with the gap between asking and selling prices falling to 3.5%.
Moreover, the average time taken to sell a property fell from 18 to 17 weeks, with the number of viewings necessary to achieve a sale remaining at 12.
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