12-06-2008
NAEA highlights need for regional focus on housing market
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The UK's National Association of Estate Agents (NAEA) has called for the country's housing market to be examined on a regional basis.
According to the NAEA, given that a national overview can only offer part of the story, a more localised outlook is important as house prices are being affected in ways that differ according to the region.
"An aggregated national snapshot of the market can only tell part of any story. In order to gain a clearer picture there is a need to look regionally," said Chris Wood, vice president of the NAEA.
"The picture is mixed across the country and some areas will be more affected than others, so people really need to look to their local markets to get a true picture."
The NAEA's comments follow the publication of data by the Royal Institution of Chartered Surveyors, which has reported a fall in the number of housing sector transactions.