22
Feb
'Fresh confidence' in January
Consumers have started the new year with a renewed sense of
optimism in the property market, according to new figures released
by the National Association of Estate Agents (NAEA).
In January, more first-time buyers were able to enter the property
market and made up 14.5 per cent of all customers in the month, the
organisation noted.
And members of the NAEA claimed that 83 properties on average were
put up for sale last month, higher than the 76 seen in
December.
Stewart Lily, president at the group, believed that a drop in the
base rate of interest has encouraged people back to the
industry.
"The past couple of interest rate cuts have seemed to taken effect
on boosting consumer confidence and the market has started to
stabilise and see a renewed sense of optimism set in," he
commented.
Dresdner Kleinwort Wasserstein staff member Alastair Stewart has
said that the UK housing market may be about to collapse, reports
the Times.