Lack of mort­gage fi­nance a prob­lem

Yorkshire Post - Property - - PROPERTY -

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.

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