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Article: NAEA reports signs of housing market stall.(National Association of Estate Agents)(Brief Article)
- Article from:
- Financial Advisor
- Article date:
- September 23, 2004
CopyrightCOPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FURTHER evidence of the stalling housing market emerged with statistics from the National Association of Estate Agents.
The NAEA said that average house prices fell in August for the third month in a row.
In addition, the NAEA said that more than three-quarters of estate agents thought prices had reached their peak.
The NAEA said that asking prices were on average 1.3 per cent lower than the previous month, making the annual increase in house prices 8.5 per cent.
This was down from 10.3 per cent in the previous month. About 80 per cent of estate agents believed that house prices had reached their highest point and would now decline.
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