Olympics slowed pace for agents

Yorkshire Post - Property - - PROPERTY -

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.”

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