11 Aug

Property market views 'are confused'

Property market views 'are confused'

Homebuyers and estate agents in the UK have been left unsure of what to think about the state of the property market after contradictory views were released.

Earlier this week, the Royal Institution of Chartered Surveyors revealed that many of their members had reported a drop in house values last month - the first fall in prices since July 2009.

However, at the same time, the National Association of Estate Agents stated that July 2010 had been one of its strongest months.

It reported that supply had increased, the percentage of first-time buyer sales had risen and there were more house hunters registered with estate agents in the UK.

Head of consulting at Ducalian Timothy Lambert said: "There are a lot of contradicting views at present."

He added that there are many first-time buyers who believe that if they do not buy now they will miss out on the opportunity before prices rise again.

Mr Lambert also said that while banks are under pressure to make mortgages easier to obtain, they are also expecting a second dip so are being cautious with their lending.ADNFCR-1222-ID-800021410-ADNFCR

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