Property sales fall by half
The number or property sales have greatly decreased this year by as much as 53 as the credit crunch cripples mortgages issuance.
The housing bust, which halved in September compared to a year earlier has seen only 59,000 property sales in September compared to 126,000 in September 2007.
The struggle comes after a mortgage lender became bust and banks have been afraid to lend to homeowners after they became cash strapped after them lending to one another.
The Government has asked in return of the recapitalisation of British banks it wants the mortgage lending to return to its normal levels, however it maybe sometime before the housing market recovers.
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October 22nd 2008
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- Countdown 4 days to go to get an EPC
- Landlords receives large fines
- UK rental market to thrive during the economic downturn
- Landlords warned of new law to speed up repossessions
- National Landlord Association passes 35 year milestone
- Agents open lettings offices to stay afloat
- Mortgage brokers look to professional investors to keep the mood upbeat
- Booming Rental Market
- Student lets head the buy to let market
- Bradford and Bingley collect rent direct
- Bradford