NAEA: Big freeze did not affect buyers

11 February 2010

Written by Gavin Elley

Commercial mortgage holders may have purchased bargain properties during the January big freeze.

This is according to the National Association of Estate Agents (NAEA), which said that there number of properties bought last month increased.

For the average agent there were six properties sold in January, up from the five sold in December.

President of the NAEA Gary Smith said: "Our figures suggest that concerns expressed about the prospects for the market in 2010 may prove unfounded."

It is "quite amazing" that there were so many properties sold during the big freeze, he continued.

More attractive mortgage deals are entering the market and this is evident by the number of people purchasing property for the first time, Mr Smith explained.

However, the amount of property on the market is going down and if this continues it may cause prices to rise.

Throughout January much of the UK saw plummeting temperatures and heavy snowfall.

Many people were concerned about the effect this could have on the country's economy as fewer people were able to get out or do their jobs.

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