House Sales Fall by 32% in 2008
Latest figures from HMRC shows that house sales have fallen by 32% in 2008.There were 504,000 sales in the first five months of 2008 compares with 743,000 (these are house sales above the notification limit for Stamp Duty).
The figures show that in May alone sales were down by 37% on last year at just 98,000.
According to the property website Rightmove, sellers now outweigh buyers by a ratio of 15 to 1.
"It's a sign that properties are taking longer to sell so there are more on the market," said Miles Shipside of Rightmove.
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