Following the publication of the latest CML figures, National Association of Estate Agents chief executive, Peter Bolton King, said:
“The pick up in house purchase activity reaffirms our views that the market is making slow but steady steps to recovery. The findings from our latest market report showed just this; that demand for property has returned, particularly among first-time buyers. While this is all well and good for the first phase of recovery, more needs to be done to allow the market to enter the second phase.
“Lenders need to do much more in order to help facilitate the second phase of housing market recovery and we reiterate our concern over the FSA proposals to put tighter reigns on the mortgage lending process. The Government must also play their part in nurturing the recovery by extending the holiday on stamp duty.”
Peter Bolton King(NAEA)