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Tuesday, 10 March 2009

House Sales at Record Low

RICS has reported today that UK house sales between December and February were at their lowest level in 31 years.

9 homes were sold per surveyor in 3 months, the lowest since records began in 1978. This was despite the cut in interest rates, stamp duty changes and some rising interest from buyers as price falls improve affordability.

February saw enquiries from buyers rise at its fastest pace since August 2006, particularly in London, Wales and the South West of England. However, many buyers are failing to follow through because of the lack of mortgage finance available.
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