First-time buyer market growing, says the NAEA

Professional Adviser
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The National Association of Estate Agents (NAEA) sees little justification for increasing base rates...

The National Association of Estate Agents (NAEA) sees little justification for increasing base rates to calm the housing market, despite the Council of Mortgage Lenders' concerns. The latest monthly housing market survey from the NAEA shows during May, sales to first-time buyers increased by 5% to 25% of the total, despite price rises of 19% and the increasingly acute shortage of homes available. NAEA chief executive, Hugh Dunsmore-Hardy, said: 'As house prices continue to rise, there is talk of the development of hotspots where first-time buyers will not be able to enter the market. ...

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