NAEA: Property market strengthening

22-Mar-2006

The property market is continuing to strengthen, the National Association of Estate Agents (NAEA) revealed yesterday.

According to the NAEA's recent property market survey, the number of sales agreed rose substantially last month.

Aspiring first time buyers considering affordable housing options should work with a good mortgage broker

However, figures also show that the number of first-time buyers fell, which has led the NAEA to call on the chancellor, Gordon Brown, for help in his Budget speech today.

Mortgage lenders have risen to the challenge of creating a growing number of options for first time buyers.

Christopher Hall, NAEA president, comments that the eradication of stamp duty would help first-time buyers or simply a raise in the entry level.

"The NAEA and its members await the chancellor's Budget report with anticipation and encourage any reforms that will help increase the number of first-time buyers purchasing property," he said.

Although Mr Brown increased the lower threshold for stamp duty last year in a bid to help aspiring homeowners, research suggests that many are still hit by the tax.

Nevertheless, Mr Hall concluded that there was "no doubt that that housing market is going from strength to strength".

Aspiring first time buyers wanting advice on mortgages, to find out how much they can borrow and how much it will cost, should request advice from the UK’s leading High Street Brokers, Bradford and Bingley.

Aspiring first time buyers applying for shared ownership are advised to consult a good mortgage broker.

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