First-time buyer numbers down in February
News Category: Industry News
Published: 25-Mar-2008
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Recent housing market figures have indicated that the number of first-time buyers fell last month.
The National Association of Estate Agents (NAEA) revealed that levels of activity in the market continued to decrease, with first-time buyers accounting for 11.7 per cent of sales in February.
In addition, the number of house buyers on estate agents' books fell to an average of 243 registered per agent last month, representing a decrease of 33 on January's figure.
Stewart Lilly, president of the NAEA, commented: "The figures reported in February echo the current climate of confusion that is clouding the property market at present.
"Invariably, the global credit crunch, especially the US situation, has had a knock-on effect, which coupled with consumer inflation, is placing continuing pressure onto the property market."
Mr Lilly added that there were "vast regional differences" in the market, with some areas being much slower than others.
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