Tuesday, March 25, 2008
Hard times for estate agents as house sales fall by 40%
The number of house-buyers on estate agents' books dropped 12 percent last month -- to 243 per agent from 276 in January -- according to the National Association of Estate Agents (NAEA). At the same time the gap between asking prices and what properties actually sold for continued to widen to stand at 4.5 percent. The number of homes on the market during February declined almost 11 percent to an average of 74 per estate agent as potential sellers awaited more favourable market conditions. Each agent made an average of eight sales during the month, the same as the previous month, but down from 13 a year ago.