TAX rises and the fear of higher mortgage rates have slowed down the
recovery in the housing market, estate agents reported yesterday.
A total of 43% of members surveyed by the National Association of
Estate Agents reported less business during June, compared with 22% who
reported a rise.
No one region fared exceptionally well in the survey, although
Scotland, Wales and northern England had the highest proportion of
agents reporting increased business.
''The public has had cause to take stock of late, both with tax
increases and interest rate speculation,'' said NAEA president Eva
Lomas. ''As a result, people are generally only moving house when they
really have to.
''They are not rushing to move up the housing ladder and improve their
lot as they did in the 1980s but are staying put until they can see a
real economic upturn.''
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