First-time buyer market share 'down 10%'

Posted: 08 Oct 2009 11:20:51 GMT

The percentage of property buyers who were purchasing their first home in September dropped from 36 to 26 per cent in September, compared to August.

But despite first-timers' weaker market share, the average number of property sales of all kind agreed per UK estate agent branch increased to 8.5.

These are the findings from the National Association of Estate Agents (NAEA), which this week published its overall housing market report for September.

Other trends noted by the NAEA included a monthly increase in the number of house hunters registered per branch and a monthly decrease in the number of properties available per branch.

The gap between asking and selling prices dropped slightly - from 11 to 10.9 per cent.

Earlier this week, NAEA chief executive Peter Bolton King said that Nationwide Building Society's latest property price data - showing a 0.9 per cent increase in house values between August and September - should be seen as a sign the market is recovering.


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