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Housing market enjoys robust summer, says NAEA
07/08/09
The UK housing market is in a stronger position now than it was 12 months ago, according to new figures from the National Association of Estate Agents (NAEA).While the summer months of July and August traditionally experience a "dip in activity" compared with June, the market is in a comparatively "robust" period compared with the same period last year.
Between June and July, the percentage of properties bought by first-time buyers decreased from 26 per cent to 22 per cent, but this is still considered to be a "positive indicator" compared to the 11 per cent figure recorded in July 2008.
According to the NAEA, stronger numbers this July could represent "further evidence" of continued recovery in the market.
"Increased activity and sales are almost universally reported," said Ian Harris of the Norfolk NAEA branch, adding that there are still some good deals to be found on "sensibly priced" residential property.
Mortgageforce reported this month that many borrowers turned away from fixed-rate mortgages in the month of July, with some instead opting for tracker or discount rates amid several "storming" deals.
