Demand drops off in housing market
THE housing market showed signs of another slowdown last month as demand for property declined, according to estate agents.
The National Association of Estate Agents (NAEA) market report for April shows that home buying activity fell, with only a slight rise in the supply of housing.
Only an average 294 househunters registered with an estate agent in April compared to 297 in March. This compares to 348 on average five years ago.
The number of homes on the market increased by just one per branch, from an average of 61 homes in March to 62 in April.
The NAEA blames restrictive lending policies from the major banks and lack of support the first-time buyer market.