Sales remain high says NAEA - Mortgages - News - Moneyfacts

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Sales remain high says NAEA

Sales remain high says NAEA

Category: Mortgages

Updated: 13/07/2009
First Published: 13/07/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The National Association of Estate Agents (NAEA) has said that sales remained strong in June, despite the number of homes on the market falling during the month.

The average professional agent sold ten homes in June for the consecutive month - double the average sold during the worst of the market downturn in August last year.

The difference between asking and buyer prices is now just 1.9 per cent - a marked improvement on previous figures, while agents have an average of 64 properties on their books.

These figures suggest that homeowners are beginning to price their properties at a realistic level which, combined with an upturn in buyer enthusiasm and first time buyer interest, is driving improved sales.

"The housing market is in a far stronger position than it was 12 months ago," said NAEA president, Gary Smith.

However, he urged politicians and banks to do more to sustain and build on the recovery, commenting: "The Government should scrap Home Information Packs and must pressure banks to ensure lending is available.

"It is in the interests of the UK as a whole that the upturn in the housing market that has been noted in the first half of 2009 is sustained and nurtured into a full recovery."

Mr. Smith's criticism come just after a survey by his organisation found that almost a quarter of people – 22.5 per cent – were unable to find a mortgage deal to which they are eligible across the entire market.

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