You are here: Home - News -

NAEA reports rising prices but senses a slowdown in some areas

  • 07/04/2003
  • 0
The National Association of Estate Agents (NAEA) has seen signs of hesitation in the national ...

The National Association of Estate Agents (NAEA) has seen signs of hesitation in the national housing market.

Its latest market survey reports plenty of activity in the market and rising house prices, but there are also signs of a slowdown.

Julie Westby, president and acting chief executive of the NAEA, reported that key indicators such as applicant enquiries, price increases, and monthly sales transacted, remain positive.

However, NAEA branch chairmen, who comment on the situation within their regions, now have widely divergent views.

Areas reporting activity and buoyancy among buyers and sellers include Bedfordshire and Milton Keynes, East Sussex, the North, West, and South Cheshire, Merseyside and North Wales. However, Devon, Hereford and Worcestershire, Nottinghamshire and Derbyshire all report slowdowns.

Westby said: ‘The consensus seems to be that there will be a slowdown. It is the result of uncertainty over the international situation and the lack of a ‘feel-good factor’.’

Kevin Duffy, managing director of Hamptons International Mortgages, said: ‘Activity and prices in central London continue to be subdued. We are also finding that there is a fair amount of buyer apathy in the stockbroker belt.

‘However, outside a 60-mile radius of London the national market is still buoyant in our view. A measure of our confidence that it will remain so is that we are considering opening offices in the North East.’

The survey found that house prices nationally were 16% higher in February 2003 than February 2002.

Viewings in February were up 32% on January’s figure, however, the average number of viewings required for a sale was 17, up from 12 in January.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:

The Mortgage Business (TMB) Specialist lender, TMB, has appointed Gary Wiggins as business develop...