5 Oct

Estate agents association: Evidence of market recovery should be welcomed

Estate agents association: Evidence of market recovery should be welcomed

Evidence to support recent claims that the property market is recovering should be welcomed, according to the National Association of Estate Agents (NAEA).

Peter Bolton King, chief executive at the trade body, which is the residential sales arm of the National Federation of Property Professionals, said that recently released figures support the reports of NAEA members.

His comments follow the publication of statistics from Nationwide, which suggested that house prices have increased for the fifth month in a row and are now on a par with values from a year ago.

They also revealed that prices in Northern Ireland rose for the first time in two years in the third quarter.

"House hunters need access to mortgages from the major lenders. The government's flawed stamp duty policy also needs re-examining, otherwise these positive signs risk being short-lived," stated Mr Bolton King.

He added that market resurgence is a fragile process and is not guaranteed.

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