First time buyers have seen their share of the property market increase to the highest levels since November 2006, according to statistics from the National Association of Estate Agents (NAEA).
The NAEA also claims the number of houses on the market remains stable, but the number of buyers has fallen drastically, as have the number of sales agreed. The proportion of sales to first time buyers was 13% in December 2007, up from 10.1% in November and the highest since a 13.4% share was recorded in November 2006. The proportion of first time buyer sales has been increasing since September 2007, when it reached a low of 8.8%, possibly due to reports of falling house prices. Stewart Lilly, president of the NAEA, comments: “A particularly encouraging sign for December was the incre...
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