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Estate agents struggling to meet demand

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  • 21/05/2002
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According to the National Association of Estate Agents (NAEA), a shortage of properties on the marke...

According to the National Association of Estate Agents (NAEA), a shortage of properties on the market is adding to the current high level of house prices.

With the market showing no signs of slowing, NAEA members have reported demand is failing to match the number of new instructions, encouraging house prices to rise well ahead of inflation.

Chief executive, Hugh Dunsmore-Hardy, said: ‘Our survey shows a traditional spring surge in housing-market activity, with estate agents struggling to keep up with demand.’

The survey shows the average number of agreed sales during March was 33% higher than in the first two months of the year.

Business looks set to remain busy as 55% of members reported a rise property viewing. First-time buyers are also keeping the market buoyant, accounting for around 38% of buyers in March.


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