Lack of mortgage finance a problem
JUST over half of estate agents say the lack of mortgage finance for first-time buyers poses the single biggest threat to their business.
One in five agents said that ongoing weakness in the economy and rising unemployment following the public sector cuts announced in the Spending Review are the biggest threat to their businesses.
Only 10 per cent see falling house prices as the biggest threat, while five per cent see their competitors as the biggest challenge, and just two per cent named changes in the regulatory environment. The findings emerged in a survey of 300 estate agents by Obligo, a provider of financial services solutions to estate agents, which says next year will be challenging.