Wednesday, May 21, 2008
BOE report - see brief summary
Bank of England: Agents' Summary of Business Conditions for May
See May 2008 PDF download for full report - Brief summary - Estate agencies have reported a further reduction in enquiries into established properties and that sale periods are continuing to lengthen.The report also maintains there has been a rise in the cancellation of sales and attributes the phenomenon to tighter credit conditions. It says vendors were accepting sizable discounts on asking prices in May and that this is reflected in the fall in price inflation for established homes. Estate agencies are reporting a cull of staff to accomodate the reduction in demand for services.The summary also reveals demand for new housing has continued to weaken as a result of tighter credit conditions.
Posted by jack c @ 04:31 PM (205 views) Add Comment
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