19
Dec
First-time buyer market share rises, survey shows
A new survey of the housing market has indicated that the share
held by first-time buyers is rising.
The National Association of Estate Agents (NAEA) revealed that its
November figures have shown a third successive monthly increase in
the proportion of buyers who are trying to get on the housing
ladder for the first time.
NAEA president Chris Brown also pointed to a smaller than expected
fall in prices during November as a welcome development.
He added: "The glimmer of positive news that some of these figures
reveal can give estate agents across the country some hope for a
more prosperous 2009," suggesting that the effects of recent
interest rate cuts are yet to be fully felt.
In its forecast for next year, property portal propertyfinder.com
has said many first-time buyers will benefit from picking up
bargains before the market starts to recover during 2009, as
reduced rates and the lowering of the fees banks must pay the
government for guaranteed lending lead to a greater availability of
mortgage finance.
