Home   News   Digital archive   Article

Shrinking books for the agents

THE housing market slowed in October as the number of buyers on books, houses available and sales agreed took a tumble, indicating a considerable cooling down in the housing market according to the National Association of Estate Agents (NAEA).

The number of house buyers on estate agents' books was at its lowest for the past four years, with agents reporting an average of 282 buyers registered in comparison to the 326 recorded in September 2007.

The second lowest figure recorded was in December 2005 with an average of 302 buyers reported, indicating that the market is experiencing the type of slowdown that often happens in the festive period.

With a downturn in the number of house buyers, the properties on agents' books saw a slight reduction as NAEA members across the country reported an average of 65 properties for sale in October, compared with the 80 properties in September.

However, when compared to the same time last year the figure is slightly up as 64 properties per agent were recorded in October 2006.

The number of sales agreed per agent was down in October with on average 10 sales reported, compared with 11 in September 2007. This is a significant drop from the same time last year when a figure of 14 sales was reported for October 2006.

First-time buyers increased their share of the market from 8.8 per cent in September to 9.2 per cent in October in a positive step. Prices calmed in selected areas giving some first-timers renewed hope.

However, this figure is down on the same time last year when first-time buyers had a 16.4 per cent market share.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More