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Property Sales Stagnate Hmrc

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http://www.bbc.co.uk/news/business-13525167

Property sales in the UK are still lower than a year ago, according to HM Revenue & Customs (HMRC).

Just 66,000 homes were sold in April, 1,000 fewer than in March and 6,000 fewer than in April last year.

Sales in the first four months of the year have been 5% lower than in the same period of 2010.

All the accumulating evidence on sales, prices and mortgage lending indicates that the property market has stagnated, with little obvious evidence of any immediate upturn.

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They obviously have not put up asking prices enough.

Just popped in a few EA offices and the number of houses on sale for 500K plus is staggering - again, in one of the poorest parts of the EU.

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Is there a level at which the whole market literally just seizes up?

There will obviously be the 100% cash buyers going through, but below a certain level, then won't all chains just cease to function?

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You mean having people not chuck silly money about on houses is bad?

Shame on you people. Get your mortgages in, change titles, and pay your due taxes.

Else I'm sending in the heavies!

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(George is #7)

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Is there a level at which the whole market literally just seizes up?

There will obviously be the 100% cash buyers going through, but below a certain level, then won't all chains just cease to function?

but if that happens the benefits to being a cash buyer will become more significant so won't people become more willing to sell and go into short term rentals/take out bridging loans (if that option isn't made unviable by high interest rates)?

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  • 312 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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