25 Mar

Consumers told to buy

Consumers told to buy

Current conditions being witnessed in the housing market favour buyers, according to figures released by the National Association of Estate Agents (NAEA).

The gap between asking prices and sales prices grew again in February, the organisation said, hitting 4.5 per cent, but buyers are being put off by unsettled conditions.

During the month, the number of buyers on books of estate agents fell from 276 to 243 on average, it stated.

President of the NAEA Stewart Lilly remarked that world conditions are starting to take hold.

"The figures reported in February echo the current climate of confusion that is clouding the property market at present. Invariably, the global credit crunch, especially the US situation, has had a knock-on effect," he commented.

He added that it is disappointing to see a drop in the number of first-time buyers and that they could see the benefits of the current situation.

A recent survey carried out by the Fair Investment Company found that a high amount of Brits would consider purchasing property abroad in an attempt to get on the housing ladder.ADNFCR-1222-ID-18521252-ADNFCR

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