NAEA RESPONSE TO LATEST CML FIGURES

Commenting on CML figures released today, National Association of Estate Agents President Gary Smith said:

“What we are seeing is a market inching its way back to recovery. First time buyers have returned and now these figures show that house movers are also returning to the market – families wishing to upgrade or young couples needing a bigger house to raise a family.

“For the first half of this year the NAEA’s own figures recorded the return of first time buyers; now the rest of the market is following. That is a sure sign that demand is returning and people believe that now is a good time to get a bargain.

“There is a long way to go before things stabilise – and a real need for sensible Government policies and responsible lending – but indicators do suggest that the bottom has been reached and that the slow process of recovery may have begun.”