21 Jan

NAEA identifies positive market moves

NAEA identifies positive market moves

The property market is showing some positive signs of recovery, the National Association of Estate Agents (NAEA) has commented.

Reflecting on figures from the Council of Mortgage Lenders (CML) showing an 11 per cent fall in lending between November and December, the NAEA said the statistics were "disappointing but not unexpected".

"However, NAEA members reported a slight upturn in activity towards the end of December, with both buyers and sellers showing an increase in interest," a spokesperson noted, adding that they have also seen signs of an improvement in January.

Increased market liquidity is required to turn this situation into a clear recovery, the NAEA concluded.

Commenting on the CML findings, the body's director general Michael Coogan said this week's government package to help financial institutions lend more needs to be set up to enable a wide range of lenders to make use of the measures.

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