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The Masked Tulip

House Sales Fell In Wales In July

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GOVERNMENT spending cuts are already affecting house sales in Wales, according to latest data.

A property market index has shown monthly house sales in July dropped by 11.8% – the second consecutive month house sales have fallen.

The firm behind the research says the Government’s announcement of a two-year public sector pay freeze and an increase in VAT early next year contributed to potential home- buyers revising their budgets and putting their moving plans on hold.

Despite that, the Agency Express Property Activity Index said sales were still up compared to January 2009.

Agency Express said the month-on-month fall in sales pointed to people’s unease over the economic climate, especially with so many employed in the public sector in Wales.

Stephen Watson, managing director of the for-sale board firm, said: “It is evident that we are entering a period of austerity as the Government looks to cut back on its spending.

“Anyone working in the public sector will see a drop in their real income as they won’t get a pay rise until 2012, at the earliest.

“In addition, the rise in VAT next year and the pressure on some companies for it to reduce the hours for its workers will hit people’s household budgets.

“It seems that people who have been looking to move have paused to take stock of the situation and to recalculate their budgets.

Full story here:

http://www.walesonline.co.uk/news/wales-news/2010/08/03/house-sales-fell-in-wales-in-july-91466-26983496/

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You would expect house sales in July to be higher than in January would you not?

LOL thats funny just noticed that, surely compare July 2010 to July 2009?

Edit: Oh dear don't compare to July 2009 "The number of houses ‘Sold’ in July was the lowest level since January and compared to July 2009, monthly house sales were down 3.9%"

http://www.propertyactivityindex.co.uk/s72/Latest-report.html

It appears these people erect for sale/sold boards.

Edited by Pent Up

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LOL thats funny just noticed that, surely compare July 2010 to July 2009?

Edit: Oh dear don't compare to July 2009 "The number of houses ‘Sold’ in July was the lowest level since January and compared to July 2009, monthly house sales were down 3.9%"

http://www.propertyactivityindex.co.uk/s72/Latest-report.html

It appears these people erect for sale/sold boards.

Oh dear - let's hope things get worse.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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