11 February 2010
NAEA: BUYERS BRAVE BRITAIN’S BIG FREEZE
BRITAIN’S house hunters braved freezing weather and blizzard conditions to bag themselves a bargain in January, according to estate agents.
The National Association of Estate Agent’s market report for January suggests that despite some of the worst weather on record the number of houses sold by the average agent increased month on month.
The average agent sold six properties in January compared to five in December. The number of people registering with estate agents to buy property also increased, from 251 in December to 291 in January.
This also shows a 12-month improvement – the number of registered house hunters per agent in January 2009 was 242. In contrast the number of houses available for sale fell from 59 per branch in December to 55 per branch in January.
The percentage of sales made to first time buyers also increased from 19 per cent in December 2009 to 23 per cent last month.
President of the NAEA, Gary Smith, said: “Our figures suggest that concerns expressed about the prospects for the market in 2010 may prove unfounded.
“This appears to be confirmed by the increased level of sales, which given the awful weather conditions is quite amazing. The dwindling housing stock on our members’ books reflected the increase in sales month on month, but this is a worrying trend that if continued will result in further upward pressure on prices.
“More encouragingly, the very important first time buyer section of the market now makes up almost one in four purchases. This confirms their confidence in the market as well as their ability to obtain attractive mortgage deals.”
*Please ring the press office for a copy of the market report for January*
ENDS
Editor Notes
Editor Notes:
About the NAEA The National Association of Estate Agents (NAEA) is the UK’s leading professional body for estate agency personnel, representing the interests of around 10,000 members who practice across all aspects of property services both in the UK and overseas.
These include residential and commercial sales and lettings, property management, business transfer, auctioneering and land. The NAEA is a sister organisation to the Association of Residential Letting Agents (ARLA). T
he NAEA is dedicated to the goal of professionalism within all aspects of property, estate agency and land. Its aim is to reassure the general public that by appointing an NAEA member to represent them they will receive in return the highest level of integrity and service in both sales and lettings, for all property matters.
Both NAEA and ARLA members are bound by a vigorously enforced Code of Practice and adhere to professional Rules of Conduct. Failure to do so can result in heavy financial penalties and possible expulsion from the Associations.
For further information contact:
NAEA PRESS OFFICE
Tel: 020 3128 8181
E-mail: press@nfoppmedia.com
