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ISCOVER
Staff Reporter
Improvements in housing affordability could help generate more business opportunities for brokers, RP Data has claimed.
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Speaking to The Adviser, RP Data’s research director Tim Lawless said while many brokers are struggling in this flat property market, there is light at the end of the tunnel.
“There are positives to be drawn from falling property prices,” Mr Lawless said.
“The market does need to take a breather. Prices cannot continue to climb as they have done in the past. We need to see some improvements in affordability, and that is exactly what is happening at the moment.
“Prices are going backwards, in addition wages are going up, so we are seeing affordability improving. As housing affordability improves, brokers will see more borrowers come back into the market.”
