House Sales at 30 Year Low
A new RICS survey has shown house sales have hit a new 30 year low. Estate agents sold, on average, just one property per week in September. This is the lowest number of properties being sold since the survey stared in 1978 and 52% lower than September 2007.London showed the lowest number of sales per agent selling on average just 8 properties per agent over the preceding 3 months.
According to RICS, liquidity in the mortgage market is one of the main reasons for the slump with only those with significant finance able to access the market.
However, RICS did see some increase in enquiries from potential buyers, possibly from the clarification of the position on Stamp Duty.
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