Buyers lose interest say National Homebuyers
The housing market suffered in December, potentially leading to more people seeking a fast property sale through alternative methods.
[UKPRwire, Thu Jan 24 2008] The National Association of Estate Agents (NAEA) has revealed that the number of buyers listed on agent's books slumped in the month.
An average of 290 were registered per agent in November, but this fell drastically to 249 in December.
That is the lowest figure ever recorded in the report, with the NAEA blaming uncertainty in the market for bringing the number down.
Property sales were also down to just five per agent, compared to nine in November and eight in both December 2005 and December 2006.
The slump in buyer interest is likely to lead to many people seeking a fast property sale.
"The past year has certainly been a rocky road for many, as Hips confusion, escalating interest rates and low consumer confidence all fuelled apprehension in the property market," said Stewart Lilly, NAEA president.
"We were finally given respite over interest rates in December when the Bank of England announced a quarter percentage point drop. We had hoped this would be swiftly followed by another decrease in the beginning of 2008 but unfortunately have not seen one yet," he added.
Quick house sale expert Julian King of National Homebuyers adds, "This is a very difficult time for estate agents as their business has effectively halved over the past few months.
"As fewer buyers are available for each property, homesellers are looking for a guaranteed sale to achieve their goal.
"National Homebuyers has been purchasing thousands of properties over the last few years from homeowners who simply want a quick sale.
"Homeowners who cannot afford cost, drop in value or delays in selling their property via an estate agent are well advised to consider the sale of their property away from the 'open market'".
Mr King is a director of the UK's leading quick house sale company, National Homebuyers. The organisation arranges the fast purchase of property across the UK. The company is also market leading provider of Sell and Rent Back solutions.