Signs of rate cut hit housing market

Levels of UK housing stock, as well as the number of people buying and selling property, all increased in January, according to the National Association of Estate Agents (NAEA). Homebuyer levels increased by 11%, with first-time buyers accounting for 14.5% of these purchases – a 3% rise on last year’s figures. Housing stock increased by 9% and estate agents recorded an average of eight sales each in January, an increase from five in December.
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