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NAEA Reveal Glimmer Of Hope For UK Estate Agents

Wed, 24 Dec 2008
The National Association of Estate Agents (NAEA) has revealed a mixed outlook for the health of the estate agency profession in 2009, with a new report highlighting both positive and negative news.

Publishing November figures for the housing market, the shows reveals that the number of first-time buyers purchasing property rose for the third consecutive month, while house prices continue to fall.

Figures show that between October and November, the average price of a flat fell from £118,334 in to £114,288, while the cost of a terraced house dropped from £151,305 to £149,589 – helping to attract more first-time buyers to the market.

There was also a drop in the number of sales made per estate agent from seven per agent in October to six in November.

Commenting on the report’s findings, NAEA president Chris Brown said: "November, and indeed December, is always a quiet time for the housing market because people are reluctant to move home over the festive period."

"Bearing that in mind, and after what has been the most difficult year for the market in a very long time, these figures are definitely not as bad as expected."

"In fact, while it may seem a meagre offering, the glimmer of positive news that some of these figures reveal can give estate agents across the country some hope for a more prosperous 2009."

Brown added: "The market is still waiting to feel the impact of recent interest rate cuts, and if the major lenders commit to making mortgages available to those who want to buy then the market should improve next year".
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