Britons are confused. A survey of British homebuyers by the Association of Property Finders and Buying Agents (APFBA) found that two-thirds of them mistakenly think estate agents act in the interests of the buyer as well as the seller. In fact, estate agents represent the seller's interests only....and maybe their own of course.
There's confusion about the housing market. A surge in viewings and mortgage lending during the Spring has put a spring in the step of estate agents. Prices in central London actually rose 0.4 per cent in April estate agency, Knight Frank, reveals.
With affordability now better than its long term average Lombard Street Research says the housing slump is almost over, but Capital Economics says prices will fall 30 per cent over the next 18 months.
While debate rages about when to call the bottom of the market, most agree it will recover first in central London. Was that small rise in April just a blip? Watch this space.
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