First-time buyers may start looking for flats to rent in London
There may have been a rise in the number of people looking for flats to rent in London, following new research that reveals the amount of house hunters has fallen for the second consecutive month.
According to the National Association of Estate Agent's (NAEA's) market report for September, the quantity of individuals looking to buy a home and are registered with an agency in the country fell to an average 247 per branch, down from 250 in August.
first-time buyers continue to struggle to get a foot on the property ladder, with the figures showing the percentage of sales to people purchasing their initial residence in August dropped to 20 per cent, compared to 21 per cent for the previous month.
NAEA President Michael Jones said: "The drop in the number of first time buyers is still a concern."
Statistics published earlier this month by Communities and Local Government revealed an 8.3 per cent year-on-year increase in the average cost of a home during August.
Charles McKay
Published 13th October, 2010
© 2010 Estates IT Limited
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