25-03-2008
Estate agents confirm housing market is ripe for buyers
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The UK's National Association of Estate Agents (NAEA) has announced that the current housing market conditions make things ideal for buyers.
However, the organisation's claims come amid confirmation that, over the course of February 2008, according to information provided by the organisation's members, the number of first-time buyers and available housing decreased.
"The figures reported in February echo the current climate of confusion that is clouding the property market at present," said Stewart Lilly, president of the NAEA. "Invariably, the global credit crunch, especially the US situation, has had a knock on effect [and] is placing continuing pressure onto the property market."
Mr Lilly confirmed that the UK's property market is being affected by inflation. The NAEA also noted a reported decrease in the number of available buyers.
Established in 1962, the NAEA has a membership base of 10,000 members and is Britain's professional organisation for the estate agency sector.