Olympics slowed pace for agents
THE National Association of Estate Agents say demand for housing reduced slightly and fewer sellers were putting property onto the market in July.
NAEA agents have attributed this slowdown to the Olympics, which proved a distraction for prospective buyers and sellers and compounded the traditionally quiet summer holiday period.
Mark Hayward, president of the NAEA, said: “As anticipated, the build-up and opening few days of the main Olympic events in July had a negative impact on activity in the UK housing market.
“The drop in first-time buyer levels is a continuing concern for the NAEA especially in light of major high street lenders increasing in rates on some mortgage products.”