House Sales Fall 53%
The number of properties sales in the UK has fallen 53% in the past year according to a new report from HM Revenue & Customs.In September, 59,000 homes were sold, down from 126,000 in September 2007. The number of homes sold in September was down 62% from its recent peak in sales of 154,000 in December 2006.
Howard Archer of Global Insight described the HMRC figures as "dismal".
"Faster rising unemployment, heightened concerns over the economic outlook and widespread expectations that house prices will continue to fall markedly seem well set to depress housing market activity and prices for some considerable time to come," he said.
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