Saturday, May 24, 2008
House market gridlock
BBC News: House sales to hit '30-year low'
The number of properties sold in 2008 is likely to be at its lowest level for 30 years and 30% lower than last year, according to a housing expert. The prediction by Richard Donnell, from website Hometrack, comes as uncertainty in the market prompts many would-be buyers to wait in case prices fall.
Posted by quiet guy @ 01:29 PM (465 views) Add Comment
1 Comment
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1. confused76 said...
Anectodic evidence suggests that...
"One homeowner trying to sell his property told the BBC that he had been forced to cut the asking price by more than 10%.
"There wasn't a lot of interest at all," said Alan Copperwaite.
"Very few people came to visit the property and I had a lot of no-shows. I did have a couple interested in it but they pulled out because their family thought they could get it for a much lower price later on"
"At the moment you've got a one in five chance of selling your house if it goes on the market today" Henry Pryor, Primemove.com
But not everyone can afford to cut the sale price and even if they can it won't guarantee a sale, estate agents believe.
That's because buyers who don't have to move are choosing to stay put, hoping prices will fall further"
Let s see what Stuart "my" Assetz is going to write in his next piece of sci-fi