18 Jan

First-time buyers increase market share

First-time buyers increase market share

Members of the National Association of Estate Agents (NAEA) reported that

First-time buyers have improved their market share in December leading to further optimism that more people will soon be able to get a foot on the property ladder.

Members of the National Association of Estate Agents (NAEA) reported that first time buyers increased their share of the market with a substantial hike from 10.1 per cent in November to 13.0 per cent in December.

This is the highest figure recorded for first timers since November 2006 when a 13.4% share was reported by NAEA agents.

NAEA president Stewart Lilly said: "We hope this positive trend will continue into 2008. Another interest rate drop would be a very positive move for the struggling first-time buyer group – and indeed for consumer confidence as a whole.

"While we expect the coming 12 months to be fairly uneventful in terms of prices, we hope that further rate cuts might restore a sense of optimism in the market."

ADNFCR-1222-ID-18432655-ADNFCR

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