Market requires confidence
A new report has found the property market stable in general but says that more consumer confidence is required from consumers to bolster it further

The property market is stabilising after a period of uncertainty, says the National Association of Estate Agents (NAEA), although there are still considerable regional variations.
As sales agreed, numbers of viewings and the difference between asking and sales prices all reach a level of healthy stability, the NAEA has argued that buyers need to stop adopting a ‘wait and see’ attitude. ‘Many, especially first time buyers, will be feeling the results of the credit crunch and tighter lending leading to them being unable to move onto the ladder or up the chain. Some agents are also finding it difficult to stop sales falling through as people get cold feet or fail to secure mortgages but we must remember that this happens in the best of markets,’ it notes.
However, what people need to bear in mind, says the report, is that the market is stable and we are not seeing considerable price drops. ‘There are still strong economic factors at play, such as high employment and low interest rates and sales are still taking place,’ said Chris Brown, President of the NAEA. ‘Moreover, people need places to live and property purchase remains a good long term investment,' he continued.
Sign up for the Country Life Newsletter
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
-
Life is a Cabaret, old chum — especially when you try the Country Life Quiz of the Day
Classic movies, compound interest and the Sacking of Rome take their places in Thursday's quiz.
By Toby Keel Published
-
Reader event: Why Sir John Soane matters
Almost two centuries after his death, the architect’s work continues to inspire both classic and contemporary designers. At a Country Life event in March, four leading design experts will explore his creative legacy.
By Giles Kime Published