Buy now, suggests NAEA

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Despite the credit crunch, the National Association of Estate Agents (NAEA) suggests that now might be the best chance "for a very long time" to buy property.

The assertion is made by Chris Brown, president of the NAEA, in light of figures which show that a greater number of properties are currently going unsold on the open market.

But Mr Brown notes that this in turn means a greater supply of housing stock for first-time buyers, renters and those not in a chain.

He says: "If you are a dynamic purchaser free of any problems ... then I think its very good news.

"There has probably never been a better time to buy for a very long time."

According to the latest Rightmove house price index, there are now up to 15 properties available for each prospective buyer.

This represents around twice as many available homes as in the previous year.

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