13th March 2009
The National Association of Estate Agents (NAEA) has stated that more needs to be done to ensure that growing interest from buyers as highlighted by recent research by the organisation is translated into sales.

Interest from first-time buyers is especially high as they search for investment opportunities with enquiries up by about 20 per cent, NAEA chief executive Peter Bolton King explained.

"It is crucial that they are able to translate this returning confidence into completed sales," he said, insisting that these were people eager to buy property.

"It may be that these figures reflect the time lag between new enquiries and completions - otherwise it is damning evidence that more must be done to help first-time buyers," he added.

Mr King was reacting to new figures from the Council of Mortgage Lenders showing that the number of mortgage approvals continued to decline in January.

Only 8,900 loans to first-time buyers were approved, down from 12,200 in December and less than half the 18,000 given the green light in January 2008.



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