Property Sales Slump 50%
The number of properties sold in September fell by 50% according to latest figures from HMRC.Sales totalled just 59,000, down from 126,000 last year, despite the Government's changes to Stamp Duty. September was also the month when the financial crisis took prominence.
According to a housing analyst, Henry Pryor, prices are falling fast, with many properties down 20% on their peak. Pryor has expectations of prices falling to 2002 levels, meaning some prices may fall by 50%.
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